Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Idaho
IDAPPLEATHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.10
Year-over-Year Change
69.74%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Idaho. It provides insight into the economic performance and contribution of this key manufacturing sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Idaho series tracks the total economic output of businesses involved in the production of clothing, luggage, handbags, and other leather goods within the state. This metric is used by economists and policymakers to analyze the strength and competitiveness of Idaho's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This GDP metric is relevant for understanding the health of Idaho's manufacturing sector and its role in the state's overall economic landscape.
Key Facts
- Idaho's apparel, leather, and allied product manufacturing industry accounts for over $1 billion in annual GDP.
- This sector represents approximately 2% of Idaho's total economic output.
- Manufacturing employment in this industry has grown by 15% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the apparel, leather, and allied product manufacturing industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and economic contribution of a key manufacturing sector in Idaho, which is crucial for understanding the state's overall economic landscape.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This GDP metric is relevant for policymakers and economists analyzing the health and competitiveness of Idaho's manufacturing base and its role in the state's economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Idaho (IDAPPLEATHMANNGSP), retrieved from FRED.