Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Nebraska
NEWPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.60
Year-over-Year Change
53.60%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Nebraska measures the inflation-adjusted production output of the wood products industry in the state. This metric is crucial for analyzing economic growth trends and the health of the manufacturing 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
The Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Nebraska tracks the real-dollar value of goods produced by the wood products industry in the state, adjusting for inflation. This index is a key indicator of the state's manufacturing capabilities and industrial productivity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and production reports from wood product manufacturers.
Historical Context
Policymakers and economists use this index to assess the performance and competitiveness of Nebraska's wood products industry.
Key Facts
- The index is seasonally adjusted.
- The base year is 2012.
- Nebraska is a top producer of wood products in the U.S.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Nebraska measures the inflation-adjusted production output of the wood products industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for analyzing economic growth trends and the health of the manufacturing sector in Nebraska.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and production reports from wood product manufacturers.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the performance and competitiveness of Nebraska's wood products industry.
Q: Are there update delays or limitations?
A: The index is seasonally adjusted and published on a regular basis by the U.S. Federal Reserve.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Nebraska (NEWPMANQGSP), retrieved from FRED.