Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Pennsylvania
PAFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
84.86
Year-over-Year Change
-24.88%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Pennsylvania measures the real output of the fabricated metal product manufacturing industry in Pennsylvania. This metric is important for economists and policymakers to assess the health and productivity of the state's 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, inflation-adjusted output of fabricated metal product manufacturers in Pennsylvania. It is a key indicator of the industry's contribution to the state's overall economic activity and productivity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Trends in this index are closely monitored by policymakers and industry analysts to understand the performance and competitiveness of Pennsylvania's manufacturing base.
Key Facts
- The index has a base year of 2012 = 100.
- Fabricated metal product manufacturing accounts for over 7% of Pennsylvania's total GDP.
- The index reached an all-time high of 105.78 in 2018.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the fabricated metal product manufacturing industry in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index are closely watched by economists and policymakers to assess the health and competitiveness of Pennsylvania's manufacturing sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to understand the performance and competitiveness of Pennsylvania's manufacturing base, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Pennsylvania (PAFABRMETQGSP), retrieved from FRED.