Real Gross Domestic Product: Manufacturing (31-33) in North Dakota
Annual, Not Seasonally Adjusted
NDMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,321.90
Year-over-Year Change
25.22%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the nominal gross domestic product (GDP) of the U.S. manufacturing sector. This key economic indicator provides insights into the overall health and performance of the manufacturing industry.
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 Annual, Not Seasonally Adjusted GDP for the manufacturing sector represents the total value of goods and services produced by U.S. manufacturing businesses over a 12-month period. This metric is used by economists and policymakers to analyze production trends, evaluate the sector's contribution to the broader economy, and inform decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using survey responses and other economic statistics.
Historical Context
The manufacturing GDP trend is closely monitored by the Federal Reserve and other government agencies to assess the state of the economy and guide policy interventions.
Key Facts
- The manufacturing sector accounts for approximately 11% of U.S. GDP.
- Manufacturing GDP reached a record high of $2.4 trillion in 2021.
- The COVID-19 pandemic caused a 3.9% decline in manufacturing GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the nominal gross domestic product (GDP) of the U.S. manufacturing sector, providing insights into the overall performance and health of the industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely monitored by economists, policymakers, and industry analysts to assess production trends, evaluate the manufacturing sector's contribution to the broader economy, and inform decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using survey responses and other economic statistics.
Q: How is this trend used in economic policy?
A: The manufacturing GDP trend is closely monitored by the Federal Reserve and other government agencies to assess the state of the economy and guide policy interventions.
Q: Are there update delays or limitations?
A: The Annual, Not Seasonally Adjusted data is published with a lag, typically several months after the end of the reference year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (NDMANRGSP), retrieved from FRED.