Real Gross Domestic Product: Wood Product Manufacturing (321) in Indiana
INWPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,075.40
Year-over-Year Change
28.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the wood product manufacturing industry in Indiana. It provides insights into the economic performance 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
The Real Gross Domestic Product: Wood Product Manufacturing (321) in Indiana series tracks the output and value-added of wood product manufacturing businesses within the state. This metric is widely used by economists and policymakers to analyze industrial activity, productivity, and competitive positioning.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
This economic indicator helps inform decisions around industrial policy, infrastructure investment, and economic development strategies.
Key Facts
- Indiana is a major producer of wood products in the U.S.
- The wood product manufacturing industry accounts for over 20,000 jobs in Indiana.
- Real GDP in this sector has grown by 15% in Indiana over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the wood product manufacturing industry within the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the economic performance and productivity of a key manufacturing sector, which is critical for understanding regional industrial activity and competitiveness.
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 accounts methodologies.
Q: How is this trend used in economic policy?
A: This economic indicator helps inform decisions around industrial policy, infrastructure investment, and economic development strategies targeting the manufacturing sector in Indiana.
Q: Are there update delays or limitations?
A: There is typically a 1-2 quarter delay in the release of this data series by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wood Product Manufacturing (321) in Indiana (INWPMANRGSP), retrieved from FRED.