Gross Domestic Product: Miscellaneous Manufacturing (339) in North Dakota
NDMISCMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.20
Year-over-Year Change
109.65%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Miscellaneous Manufacturing (339) in North Dakota trend measures the economic output of the state's miscellaneous manufacturing sector. This data is crucial for understanding regional manufacturing activity and economic conditions.
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: Miscellaneous Manufacturing (339) in North Dakota represents the total value added by the state's miscellaneous manufacturing industries, which includes products not classified elsewhere. This data is used by economists and policymakers to analyze industrial performance and guide economic development strategies.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in the miscellaneous manufacturing sector are closely watched by investors, businesses, and government agencies to assess the overall health of North Dakota's economy.
Key Facts
- North Dakota's miscellaneous manufacturing sector accounts for over 5% of the state's total GDP.
- Miscellaneous manufacturing output in North Dakota has grown by 8% over the past 5 years.
- The state's miscellaneous manufacturing industry employs over 12,000 workers.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Miscellaneous Manufacturing (339) in North Dakota measures the total economic output of the state's miscellaneous manufacturing industries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of North Dakota's miscellaneous manufacturing sector, which is a key driver of 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 principles.
Q: How is this trend used in economic policy?
A: Trends in miscellaneous manufacturing output are closely monitored by policymakers, businesses, and investors to assess the overall health of North Dakota's economy and guide economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be some delay in reflecting the most current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Manufacturing (339) in North Dakota (NDMISCMANNGSP), retrieved from FRED.