Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Idaho
IDNDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,504.80
Year-over-Year Change
18.44%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Idaho measures the inflation-adjusted output of nondurable manufacturing industries in the state. This metric is closely watched by economists to gauge the health and productivity of a key sector of 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 nondurable goods manufacturing industry in Idaho includes businesses that produce items like food, beverages, textiles, apparel, paper, and chemicals. This data provides insight into the overall performance and contribution of this industry to the state's total economic output.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Trends in nondurable manufacturing output are relevant for policymakers, businesses, and investors seeking to understand Idaho's economic conditions and growth prospects.
Key Facts
- Nondurable manufacturing accounts for over 10% of Idaho's total GDP.
- Real output in this sector grew by 4.2% in 2021 compared to the prior year.
- The food and beverage subsectors make up the largest share of nondurable manufacturing in Idaho.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted real output of nondurable goods manufacturing industries in the state of Idaho, including sectors like food, textiles, and chemicals.
Q: Why is this trend relevant for users or analysts?
A: Trends in nondurable manufacturing output provide valuable insights into the productivity and health of a key sector of Idaho's economy, which is important for policymakers, businesses, and investors.
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: Policymakers, economists, and market analysts use this data to assess the overall performance and contribution of Idaho's nondurable manufacturing sector, which can inform economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Idaho (IDNDURMANRQGSP), retrieved from FRED.