Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Pennsylvania
PAELCEQAPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.12
Year-over-Year Change
3.51%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Pennsylvania measures the inflation-adjusted output of this industry in the state. It is a key indicator of economic activity and competitiveness in this critical 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
This index tracks the real output of electrical equipment, appliance, and component manufacturing in Pennsylvania, one of the largest industrial states. It is used by economists and policymakers to assess the health and productivity of this important industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This trend provides insights into the performance and competitiveness of Pennsylvania's manufacturing base, which is closely watched by state officials and industry stakeholders.
Key Facts
- Pennsylvania is a leading manufacturing state, accounting for over 10% of U.S. manufacturing GDP.
- The electrical equipment industry employs over 30,000 workers in Pennsylvania.
- This index has shown steady growth over the past decade, indicating rising productivity in the sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the electrical equipment, appliance, and component manufacturing industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and competitiveness of a critical manufacturing sector within Pennsylvania's economy, which is of interest to policymakers, industry stakeholders, and economic analysts.
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 methods.
Q: How is this trend used in economic policy?
A: This trend is closely watched by state officials and industry groups to assess the performance and competitiveness of Pennsylvania's manufacturing base, which informs economic development policies and strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 2-3 months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Pennsylvania (PAELCEQAPMANQGSP), retrieved from FRED.