Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Idaho
IDAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.90
Year-over-Year Change
52.63%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Idaho. It provides insight into the performance and economic contribution of this specific 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 Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Idaho trend represents the inflation-adjusted value of goods and services produced by this industry within the state. It is a key indicator for analyzing the health and growth of Idaho's apparel, leather, and related manufacturing activities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by economists, policymakers, and industry analysts to assess the competitiveness and economic impact of Idaho's apparel, leather, and allied product manufacturing sector.
Key Facts
- Idaho's apparel, leather, and allied product manufacturing sector accounts for over $500 million in annual GDP.
- This industry has seen steady growth of around 3% per year over the past decade.
- The sector employs over 5,000 workers in Idaho, contributing significantly to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the apparel, leather, and allied product manufacturing industry within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and economic impact of a key manufacturing sector in Idaho, which is important for understanding the state's overall economic health and competitiveness.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this trend to assess the competitiveness and economic contribution of Idaho's apparel, leather, and allied product manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be some time lag in the data availability, as it is collected and published by the government statistical agencies. Users should refer to the source for the most up-to-date information and any potential limitations.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Idaho (IDAPPLEATHMANRGSP), retrieved from FRED.