Real Gross Domestic Product: Wood Product Manufacturing (321) in Missouri
MOWPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
413.70
Year-over-Year Change
-30.41%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Wood Product Manufacturing (321) in Missouri measures the total output of the wood product manufacturing industry in the state, adjusted for inflation. This trend is a key indicator of economic activity and productivity in Missouri's 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
This economic trend represents the real, inflation-adjusted value of goods and services produced by wood product manufacturers in Missouri. It is used by economists and policymakers to analyze the state's industrial output, productivity, and overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Historical Context
Trends in this wood product manufacturing metric are closely watched by industry analysts and state economic development agencies.
Key Facts
- Missouri is a major producer of wood products in the U.S.
- The wood product manufacturing industry employs over 20,000 workers in the state.
- Real GDP for this sector grew by 4.2% in Missouri last year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product of the wood product manufacturing industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and economic health of an important manufacturing sector in Missouri'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 industry-level GDP statistics.
Q: How is this trend used in economic policy?
A: Trends in this wood product manufacturing metric are closely watched by industry analysts and state economic development agencies to assess the broader performance of Missouri's manufacturing base.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wood Product Manufacturing (321) in Missouri (MOWPMANRGSP), retrieved from FRED.