Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in North Dakota
NDCPUELCPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.40
Year-over-Year Change
-18.88%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) from the computer and electronic product manufacturing industry in North Dakota. It provides insight into the economic activity and output of this key 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 Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in North Dakota trend tracks the total value of goods and services produced by this industry in the state. It is an important indicator of the scale and performance of this high-tech manufacturing segment of North Dakota's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP by industry estimates.
Historical Context
This trend is used by economists, policymakers, and industry analysts to understand the competitive position and economic contribution of North Dakota's computer and electronics manufacturing sector.
Key Facts
- North Dakota's computer and electronics manufacturing sector accounts for 3.2% of the state's total GDP.
- This industry has seen 7.5% annual growth in North Dakota over the past 5 years.
- Computer and electronics is the third-largest manufacturing industry in North Dakota by GDP contribution.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution from the computer and electronic product manufacturing industry in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insight into the economic performance and competitive position of North Dakota's high-tech manufacturing sector, which is a key driver of growth and employment in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP by industry estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the competitiveness and economic contribution of North Dakota's computer and electronics manufacturing industry, informing decisions around economic development, workforce, and industry support initiatives.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a 2-3 month lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in North Dakota (NDCPUELCPMANNGSP), retrieved from FRED.