Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Missouri
MOFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
542.10
Year-over-Year Change
74.65%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in Missouri. It is an important indicator of the state's manufacturing activity and economic performance.
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 Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Missouri metric tracks the total economic output of this specific manufacturing sector within the state. It is used by economists and policymakers to assess the health and competitiveness of Missouri's furniture industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric provides insight into Missouri's manufacturing base and can inform economic development strategies and trade policy decisions.
Key Facts
- Missouri is a top-10 state for furniture manufacturing employment.
- The furniture industry accounts for over $2 billion in annual economic output in Missouri.
- GDP growth in Missouri's furniture sector has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the health and competitiveness of Missouri's furniture manufacturing sector, which is an important part of the state's economy.
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 metric can inform economic development strategies and trade policy decisions related to Missouri's manufacturing base and furniture industry.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the Bureau of Economic Analysis, but may have a lag of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Missouri (MOFURNMANNGSP), retrieved from FRED.