Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Pennsylvania
PAFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,718.30
Year-over-Year Change
58.49%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in Pennsylvania. It provides insights into the performance and contribution of this critical sector to the state's economy.
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 Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Pennsylvania series tracks the total economic output of this industry in the state. It is an important indicator for analyzing the health and growth of Pennsylvania's manufacturing base, as well as the broader food and beverage production ecosystem.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is used by policymakers, industry analysts, and investors to assess the competitiveness and outlook of Pennsylvania's food and beverage manufacturing sector.
Key Facts
- Pennsylvania is a major hub for food and beverage manufacturing.
- This industry accounts for a significant portion of the state's GDP.
- GDP in this sector has seen steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Pennsylvania's food and beverage manufacturing sector, which is a critical part of the state's 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 established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, industry analysts, and investors to assess the competitiveness and outlook of Pennsylvania's food and beverage manufacturing sector.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision process of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Pennsylvania (PAFOODBEVTOBMANNGSP), retrieved from FRED.