Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in North Carolina
NCFURNMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71.63
Year-over-Year Change
-4.68%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP measures the real output of the furniture and related product manufacturing industry in North Carolina. This key economic indicator provides insights into the productivity and growth of a vital 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
The Chain-Type Quantity Index tracks the real, inflation-adjusted output of the furniture manufacturing industry in North Carolina. It is an important metric for understanding the health and competitiveness of this major regional industry.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using surveys and production data.
Historical Context
Economists and policymakers use this index to assess the performance and competitiveness of North Carolina's furniture manufacturing sector.
Key Facts
- North Carolina is a major hub for furniture production in the U.S.
- The furniture industry employs over 25,000 workers in the state.
- The index has shown moderate growth in recent years.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP measures the real, inflation-adjusted output of the furniture and related product manufacturing industry in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the productivity and competitiveness of a key manufacturing sector in the North Carolina economy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using surveys and production data.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to assess the performance of North Carolina's furniture manufacturing industry and inform economic development strategies.
Q: Are there update delays or limitations?
A: The index is updated quarterly with a brief delay, and may be subject to revisions as more complete data becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in North Carolina (NCFURNMANQGSP), retrieved from FRED.