Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Mississippi
MSFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,802.00
Year-over-Year Change
30.64%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Mississippi measures the economic output of the food, beverage, and tobacco manufacturing sector in the state. This metric is important for understanding the health and trends within a key industry.
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 series tracks the real inflation-adjusted gross domestic product for the food, beverage, and tobacco product manufacturing industry in Mississippi. It provides insights into the productivity and overall economic contribution of this critical manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP reporting.
Historical Context
Economists and policymakers use this trend to gauge the performance and competitiveness of Mississippi's food and beverage manufacturing sector.
Key Facts
- Mississippi is a major food and beverage production hub.
- This sector accounts for over 10% of the state's total GDP.
- Food and beverage manufacturing employs more than 25,000 workers in Mississippi.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) for the food, beverage, and tobacco product manufacturing industry in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and economic contribution of a crucial manufacturing sector in Mississippi, which is important for economic policymaking and business planning.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP reporting.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to gauge the performance and competitiveness of Mississippi's food and beverage manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be occasional delays of a few months in the data reporting, but the series is updated regularly by the Bureau of Economic Analysis.
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Citation
U.S. Bureau of Economic Analysis, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Mississippi (MSFOODBEVTOBMANRGSP), retrieved from FRED.