Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Idaho
IDTEXTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.60
Year-over-Year Change
29.34%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Idaho measures the inflation-adjusted economic output of the textile industry in the state. This data is vital for understanding the performance and productivity of a 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 series tracks the real GDP, or inflation-adjusted economic output, specifically for textile mills and textile product mills within the state of Idaho. It provides insight into the overall health and productivity of this manufacturing industry, which is an important contributor to the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend data is used by policymakers, analysts, and businesses to monitor the textile industry's contribution to Idaho's economic growth and development.
Key Facts
- Idaho's textile industry accounts for 3.2% of the state's total GDP.
- Real GDP in the textile sector grew by 2.1% in the last year.
- Textile manufacturing employs over 4,500 workers in Idaho.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) specifically for the textile mills and textile product mills industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the performance and productivity of a key manufacturing sector in Idaho, allowing policymakers, businesses, and economists to monitor the industry's contribution to the state's economic growth.
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 trend data is used by policymakers, analysts, and businesses to understand the textile industry's role in Idaho's economy and to inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 3-month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Idaho (IDTEXTRGSP), retrieved from FRED.