Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Mississippi
MSNDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,421.30
Year-over-Year Change
-4.98%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the nondurable goods manufacturing sector in Mississippi. It provides insights into the economic performance and productivity of this key industry within the state.
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: Nondurable Goods Manufacturing (311-316, 322-326) in Mississippi series tracks the inflation-adjusted value added by the nondurable goods manufacturing industry in the state. This metric is used by economists and policymakers to assess the health and competitiveness of Mississippi's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by state and federal policymakers to inform economic development strategies and understand the dynamics of Mississippi's manufacturing industry.
Key Facts
- Mississippi's nondurable goods manufacturing accounts for over 10% of the state's GDP.
- This sector employs more than 50,000 workers in Mississippi.
- Trends in nondurable goods manufacturing can signal shifts in consumer demand and industry competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the nondurable goods manufacturing sector in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and productivity of a key industry within Mississippi, which is important for understanding the state's overall economic conditions 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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal policymakers to inform economic development strategies and understand the dynamics of Mississippi's manufacturing industry.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the Bureau of Economic Analysis, so there may be some delay between the current economic conditions and the available data.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Mississippi (MSNDURMANRGSP), retrieved from FRED.