Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina
NCNDURMANQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.93
Year-over-Year Change
6.51%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina measures the real output of the nondurable goods manufacturing sector in the state. This metric is important for economists and policymakers to understand regional economic trends and make informed decisions.
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 index tracks the quantity of real gross domestic product (GDP) produced by nondurable goods manufacturing industries in North Carolina, including food, beverage, textile, apparel, paper, and chemical manufacturing. It provides a comprehensive measure of the state's manufacturing output and productivity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric helps inform economic policy and business decisions related to the nondurable goods manufacturing sector in North Carolina.
Key Facts
- North Carolina is a major center for nondurable goods manufacturing.
- The state's nondurable goods sector accounts for over 10% of its GDP.
- Manufacturing productivity is a key driver of economic growth in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output of the nondurable goods manufacturing sector in North Carolina, including industries like food, textiles, and chemicals.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and economic performance of a key industry in North Carolina, which can inform business and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: This trend helps inform economic policy and business decisions related to the nondurable goods manufacturing sector in North Carolina.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve with minimal delays, providing timely insights into the state's manufacturing economy.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina (NCNDURMANQQGSP), retrieved from FRED.