Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Missouri
MOFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,032.00
Year-over-Year Change
46.67%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Missouri trend measures the economic output of this industry sector in the state. It is a key indicator for analyzing the strength and performance of Missouri's manufacturing and consumer goods industries.
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 metric represents the total value added to Missouri's Gross Domestic Product (GDP) from the food, beverage, and tobacco manufacturing sector. It provides insight into the productivity and contribution of this important industry to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production and sales information.
Historical Context
Policymakers and analysts use this trend to evaluate the competitiveness and growth potential of Missouri's manufacturing base and consumer markets.
Key Facts
- Missouri's food and beverage manufacturing sector contributed over $16 billion to state GDP in 2021.
- This industry employed more than 55,000 workers in Missouri as of 2020.
- Food and beverage manufacturing accounts for nearly 10% of Missouri's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or value added from the food, beverage, and tobacco manufacturing sector in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key industry within Missouri's economy, with implications for consumer markets, jobs, and overall state GDP.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production and sales information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the strength and growth potential of Missouri's manufacturing base and consumer goods industries, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a lag of several months between the end of the reference period and the release of the estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Missouri (MOFOODBEVTOBMANNGSP), retrieved from FRED.