Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Idaho
IDDURMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,262.60
Year-over-Year Change
11.30%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Idaho' series measures the total economic output of the durable goods manufacturing sector in the state of Idaho. This is a key indicator of the state's industrial production and economic health.
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
This series represents the gross domestic product (GDP) contributions from the durable goods manufacturing industries in Idaho, including sectors like wood products, non-metallic mineral products, and machinery manufacturing. It provides insights into the performance and role of this important component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
Policymakers and economists monitor this trend to assess Idaho's manufacturing competitiveness and broader economic conditions.
Key Facts
- Idaho's durable goods manufacturing sector accounts for over 15% of its total GDP.
- This industry has seen steady growth in recent years, outpacing the national average.
- The wood products and machinery manufacturing subsectors are the largest contributors to Idaho's durable goods GDP.
FAQs
Q: What does this economic trend measure?
A: This series measures the total gross domestic product (GDP) contribution from the durable goods manufacturing industries in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of Idaho's manufacturing sector, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess Idaho's manufacturing competitiveness and broader economic conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the BEA, with a typical lag of 3-6 months.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Idaho (IDDURMANNQGSP), retrieved from FRED.