Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Illinois
ILELCEQAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,046.10
Year-over-Year Change
2.22%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry in Illinois. It provides important insights into the economic performance and competitiveness 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 Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Illinois trend represents the inflation-adjusted output of this industry within the state's economy. It is a valuable indicator for policymakers, analysts, and businesses to gauge the health and growth of this critical manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is widely used to inform economic policy decisions and business strategies related to the manufacturing industry in Illinois.
Key Facts
- Illinois is a major hub for electrical equipment and appliance manufacturing.
- This industry accounts for a significant portion of the state's overall GDP.
- Trends in this sector can signal broader shifts in the Illinois economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the electrical equipment, appliance, and component manufacturing industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of a key manufacturing sector within the Illinois economy, which is valuable for policymakers, businesses, and economic analysts.
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 frameworks.
Q: How is this trend used in economic policy?
A: This trend is widely used to inform economic policy decisions and business strategies related to the manufacturing industry in Illinois.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other economic indicators published by the U.S. Federal Reserve.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Illinois (ILELCEQAPMANRGSP), retrieved from FRED.