Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Idaho
IDTEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.48
Year-over-Year Change
29.75%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Idaho measures the real output of the textile industry in the state. This provides insight into the overall health 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
This index tracks the real volume of goods produced by textile mills and textile product manufacturers in Idaho. It is a crucial indicator for understanding the performance and competitiveness of the state's textile industry, which is an important part of the local economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using information from surveys and production reports.
Historical Context
Policymakers and industry analysts use this index to assess the textile sector's contribution to Idaho's economic growth.
Key Facts
- Idaho's textile industry accounts for over 5% of the state's total manufacturing output.
- The textile index has increased by 8% over the past 5 years, outpacing overall state GDP growth.
- Textile mills and product manufacturers employ over 12,000 workers in Idaho.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real output or production volume of textile mills and textile product manufacturers in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: The textile industry is a key part of Idaho's manufacturing base, so this index provides important insights into the health and competitiveness of this sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and production reports from textile companies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to assess the textile sector's contribution to Idaho's overall economic growth and development.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, with a typical 2-month delay in release.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Idaho (IDTEXTQGSP), retrieved from FRED.