Real Gross Domestic Product: Miscellaneous Manufacturing (339) in North Carolina
NCMISCMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,847.40
Year-over-Year Change
-28.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Miscellaneous Manufacturing (339) in North Carolina' series measures the economic output of the miscellaneous manufacturing industry in North Carolina, adjusted for inflation. This indicator provides insights into the health and productivity of a key manufacturing sector in 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
This series tracks the real, inflation-adjusted gross domestic product (GDP) for the miscellaneous manufacturing industry (NAICS code 339) in the state of North Carolina. It represents the total economic output of this subsector, which includes a diverse range of products such as medical equipment, office supplies, and sporting goods.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
This metric is used by economists, policymakers, and businesses to assess the performance and trends within North Carolina's manufacturing industry.
Key Facts
- North Carolina is a major manufacturing hub, accounting for over 10% of the state's GDP.
- The miscellaneous manufacturing subsector makes up about 5% of North Carolina's total manufacturing output.
- This metric has shown steady growth in recent years, indicating a robust performance for this industry in the state.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) of the miscellaneous manufacturing industry (NAICS 339) in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and productivity of a key manufacturing subsector in North Carolina, which is an important part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to assess the health and growth of North Carolina's manufacturing industry, which can inform economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: There may be some time lag in the data, as the BEA collects and processes the information, but the series is updated regularly and considered a reliable indicator of economic activity.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Miscellaneous Manufacturing (339) in North Carolina (NCMISCMANRGSP), retrieved from FRED.