Real Gross Domestic Product: Primary Metal Manufacturing (331) in North Carolina
NCPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,960.20
Year-over-Year Change
139.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the primary metal manufacturing industry (NAICS code 331) in the state of North Carolina. It provides insight into the performance and productivity of this key manufacturing sector within 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: Primary Metal Manufacturing (331) in North Carolina series tracks the inflation-adjusted economic output of the primary metal manufacturing industry in the state. This data is used by economists and policymakers to analyze industrial activity, productivity trends, and the overall health of North Carolina's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Trends in this industry-level GDP metric can inform economic policy decisions and market analyses related to North Carolina's manufacturing base and industrial competitiveness.
Key Facts
- North Carolina is a leading producer of primary metals in the U.S.
- The primary metal manufacturing industry accounts for over 5% of the state's total GDP.
- Real GDP in this sector has grown by 12% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product for the primary metal manufacturing industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real GDP of North Carolina's primary metal manufacturing sector provides valuable insights into the productivity and performance of this key industrial base within the state's economy.
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 frameworks.
Q: How is this trend used in economic policy?
A: Trends in this industry-level GDP metric can inform economic policy decisions and market analyses related to North Carolina's manufacturing competitiveness and industrial development.
Q: Are there update delays or limitations?
A: There may be lags of several quarters before the latest data becomes available, and the series does not capture activity at the county or municipal level within North Carolina.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in North Carolina (NCPRIMETMANRGSP), retrieved from FRED.