Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in North Carolina
NCFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,104.20
Year-over-Year Change
25.51%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in North Carolina. It provides insights into the performance and contribution of this key sector to the state's economy.
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 NCFOODBEVTOBMANNGSP series tracks the total value of goods and services produced by food, beverage, and tobacco manufacturers located in North Carolina. This data is used by economists and policymakers to analyze the economic health and growth of this important industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
Monitoring this trend helps inform economic and policy decisions related to the food, beverage, and tobacco manufacturing industry in North Carolina.
Key Facts
- North Carolina is a major hub for food and beverage manufacturing.
- This industry accounts for a significant portion of the state's GDP.
- The sector has experienced steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Tracking this trend provides insights into the performance and contribution of this key manufacturing sector to North Carolina's economy, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: Monitoring this trend helps inform economic and policy decisions related to the food, beverage, and tobacco manufacturing industry in North Carolina.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and potential revisions by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in North Carolina (NCFOODBEVTOBMANNGSP), retrieved from FRED.