Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina
NCNDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,713.10
Year-over-Year Change
-7.51%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in North Carolina, including industries like food, beverage, textile, and chemical manufacturing. It provides insight into the performance and economic contribution of this key component of 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 Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina series tracks the total inflation-adjusted economic output of the nondurable goods manufacturing industries in the state. This metric is used by economists and policymakers to analyze the health and competitiveness of North Carolina's manufacturing base.
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 relevant for understanding North Carolina's industrial composition and economic development strategies.
Key Facts
- North Carolina is a major manufacturing hub, especially in nondurable goods.
- Nondurable goods account for over 20% of the state's total economic output.
- This sector has seen steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in North Carolina, including industries like food, beverage, textile, and chemical manufacturing.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and economic contribution of a key component of North Carolina's economy, allowing economists and policymakers to analyze the health and competitiveness of the state's manufacturing base.
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 relevant for understanding North Carolina's industrial composition and informing economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as other economic statistics published by the U.S. government.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina (NCNDURMANRGSP), retrieved from FRED.