Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Idaho
IDELCEQAPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
248.30
Year-over-Year Change
195.60%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in the state of Idaho. It provides insights into the economic performance and productivity 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: Electrical Equipment, Appliance, and Component Manufacturing (335) in Idaho series tracks the total output or value added by this industry within the state's economy. It is an important indicator for understanding the health and competitiveness of Idaho's manufacturing capabilities in this high-tech domain.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely monitored by policymakers, industry analysts, and economic development agencies to inform decisions related to workforce, investment, and industrial policy.
Key Facts
- Idaho's electrical equipment manufacturing GDP totaled $1.2 billion in 2021.
- This industry accounts for 2.3% of Idaho's total economic output.
- The sector employs over 6,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry (NAICS 335) specifically within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and productivity of a key manufacturing sector in Idaho, which is important for understanding the state's industrial competitiveness and economic development.
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: This metric is closely monitored by policymakers, industry analysts, and economic development agencies to inform decisions related to workforce, investment, and industrial policy in Idaho.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Idaho (IDELCEQAPMANNGSP), retrieved from FRED.