Real Gross Domestic Product: Private Goods-Producing Industries in Indiana
INPRIGOODPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141,973.40
Year-over-Year Change
35.90%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) generated by private goods-producing industries in the state of Indiana. It provides insights into the performance and productivity of key manufacturing and industrial sectors 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: Private Goods-Producing Industries in Indiana metric tracks the inflation-adjusted economic output of private industries involved in the production of physical goods, such as manufacturing, mining, and construction. This data is widely used by economists, policymakers, and businesses to assess the health and competitiveness of Indiana's industrial base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is closely monitored by state and federal policymakers to inform economic development strategies and assess the impact of regulations and investments on Indiana's industrial sector.
Key Facts
- Indiana's private goods-producing industries account for over 25% of the state's total GDP.
- This metric has shown steady growth over the past decade, indicating the resilience of Indiana's industrial base.
- The performance of this indicator is closely tied to the health of the U.S. manufacturing sector and global trade patterns.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by private goods-producing industries in the state of Indiana, such as manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of Indiana's industrial base, which is a critical driver of the state's overall economic growth and development.
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 indicator is closely monitored by state and federal policymakers to inform economic development strategies and assess the impact of regulations and investments on Indiana's industrial sector.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be occasional lags in the release of the most current information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Goods-Producing Industries in Indiana (INPRIGOODPRORGSP), retrieved from FRED.