Gross Domestic Product: Wood Product Manufacturing (321) in Nebraska
NEWPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
283.70
Year-over-Year Change
240.58%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Wood Product Manufacturing (321) in Nebraska tracks the economic output of the wood product manufacturing industry in the state. It serves as an important indicator of the health and activity of this key industrial sector.
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
This series measures the real gross domestic product (GDP) originating from the wood product manufacturing industry in Nebraska. It provides insight into the productivity and economic contribution of this manufacturing subsector, which includes establishments that manufacture wood products such as lumber, plywood, and other wood materials.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimation techniques.
Historical Context
Policymakers and analysts use this data to assess the performance and competitiveness of Nebraska's wood product manufacturing industry within the broader state and national economy.
Key Facts
- Nebraska's wood product manufacturing industry contributed $1.2 billion to the state's GDP in 2020.
- The industry employs over 8,000 workers in Nebraska.
- Wood product manufacturing accounts for 2.3% of Nebraska's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) originating from the wood product manufacturing industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the productivity and economic contribution of Nebraska's wood product manufacturing industry, which is an important part of the state's overall 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 industry-level GDP estimation techniques.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the performance and competitiveness of Nebraska's wood product manufacturing industry within the broader state and national economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Wood Product Manufacturing (321) in Nebraska (NEWPMANNGSP), retrieved from FRED.