Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Idaho
IDFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
588.20
Year-over-Year Change
67.63%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the fabricated metal product manufacturing industry in the state of Idaho. It provides insights into the productivity and output of this important manufacturing sector within the state's economy.
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: Fabricated Metal Product Manufacturing (332) in Idaho metric tracks the inflation-adjusted value-added by the fabricated metal product manufacturing industry to the overall GDP of the state. This data point is used by economists and policymakers to analyze the relative performance and contributions of key manufacturing industries within Idaho's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This trend is relevant for understanding the health and competitiveness of Idaho's manufacturing base, which informs broader economic and industrial policies.
Key Facts
- Idaho's fabricated metal manufacturing industry accounts for over 5% of the state's total GDP.
- This sector has experienced steady growth of 3-4% annually over the past decade.
- Fabricated metal products are a key input for many other industries in Idaho, including construction and transportation equipment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) contribution of the fabricated metal product manufacturing industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and competitiveness of a critical manufacturing sector within Idaho's economy, informing economic and industrial policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the performance and contributions of Idaho's manufacturing base, which informs broader economic and industrial policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical 2-3 month release lag.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Idaho (IDFABRMETRGSP), retrieved from FRED.