Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in North Carolina
NCTEXTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,282.80
Year-over-Year Change
3.71%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) generated by textile mills and textile product mills in North Carolina. It provides valuable insights into the economic performance of this important manufacturing sector within 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
The NCTEXTNGSP series tracks the total value of goods and services produced by textile and textile product manufacturing establishments in North Carolina. This metric is used by economists and policymakers to monitor the health and competitiveness of the state's textile industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Trends in textile manufacturing GDP are closely watched as indicators of broader economic conditions and policy impacts within the state.
Key Facts
- North Carolina is a major textile manufacturing hub in the U.S.
- The textile industry is a significant employer in the state.
- GDP from textile mills and product mills has fluctuated in recent decades.
FAQs
Q: What does this economic trend measure?
A: The NCTEXTNGSP series measures the total value of goods and services produced by textile mills and textile product manufacturers in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and competitiveness of a key manufacturing sector within the North Carolina 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 industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Trends in textile manufacturing GDP are closely watched as indicators of broader economic conditions and policy impacts within North Carolina.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in North Carolina (NCTEXTNGSP), retrieved from FRED.