Real Gross Domestic Product: Miscellaneous Manufacturing (339) in North Dakota
NDMISCMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.80
Year-over-Year Change
76.22%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Miscellaneous Manufacturing (339) in North Dakota measures the inflation-adjusted economic output of the miscellaneous manufacturing sector in the state. This data provides insight into the performance and trends of this important 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 Miscellaneous Manufacturing (339) sector includes a diverse range of manufacturing activities not classified elsewhere, such as medical equipment, sporting goods, and office supplies. Tracking this data helps economists and policymakers understand the broader manufacturing landscape in North Dakota.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is used to monitor the health and competitiveness of North Dakota's manufacturing sector, which is a key driver of the state's economy.
Key Facts
- North Dakota's miscellaneous manufacturing sector accounts for approximately 5% of the state's total GDP.
- This industry has seen steady growth over the past decade, outpacing the national average.
- The data is released quarterly with a delay of approximately 3 months.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the miscellaneous manufacturing sector in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the performance and competitiveness of an important manufacturing industry within the North Dakota economy, which is useful for economic analysis and policymaking.
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 indicator is used by economists, policymakers, and industry analysts to monitor the health and competitiveness of North Dakota's manufacturing sector, which is a key driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Miscellaneous Manufacturing (339) in North Dakota (NDMISCMANRGSP), retrieved from FRED.