Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in North Dakota
NDELCEQAPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.40
Year-over-Year Change
31.65%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in North Dakota. It provides insight into the economic performance and productivity of this key manufacturing sector in 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: Electrical Equipment, Appliance, and Component Manufacturing (335) in North Dakota series represents the total market value of goods and services produced by this industry in the state. It is a crucial indicator of the industry's contribution to the state's overall economic activity and growth.
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 used by economists, policymakers, and industry analysts to assess the health and competitiveness of North Dakota's manufacturing sector.
Key Facts
- North Dakota's electrical equipment manufacturing industry accounts for over $1 billion in GDP.
- This sector has experienced steady growth over the past decade, outpacing the national average.
- The industry employs over 3,000 workers in North Dakota, making it a significant employer in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and productivity of a key manufacturing sector in North Dakota, which is crucial for understanding the state's overall economic health and competitiveness.
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 used by economists, policymakers, and industry analysts to assess the health and competitiveness of North Dakota's manufacturing sector, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months. There may be revisions to previously reported data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in North Dakota (NDELCEQAPMANNGSP), retrieved from FRED.