Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Idaho
IDDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,956.30
Year-over-Year Change
17.88%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Idaho' measures the inflation-adjusted economic output of the durable goods manufacturing sector in the state of Idaho. This is a key indicator for understanding the health and growth of the state's manufacturing industry.
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 total real GDP, or inflation-adjusted economic output, generated by the durable goods manufacturing subsectors in Idaho. It covers a range of industries including wood products, furniture, and miscellaneous manufacturing. This metric is used by economists and policymakers to assess the performance and competitiveness of Idaho's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price indexes.
Historical Context
The real GDP of durable goods manufacturing in Idaho is an important indicator for understanding the state's industrial activity and economic conditions.
Key Facts
- Idaho's durable goods manufacturing contributed $6.3 billion to state GDP in 2021.
- The sector employs over 35,000 workers in Idaho.
- Durable goods account for nearly 10% of Idaho's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the durable goods manufacturing sector in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and competitiveness of Idaho's manufacturing base, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price indexes.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the performance of Idaho's manufacturing sector and inform decisions around economic development, trade, and workforce policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Idaho (IDDURMANRGSP), retrieved from FRED.