Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Pennsylvania
Annual, Not Seasonally Adjusted
PANDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,107.30
Year-over-Year Change
68.05%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the net output of the U.S. private industries, which is a key indicator of economic performance and productivity.
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 metric, known as Gross Domestic Product (GDP), represents the total dollar value of all goods and services produced over a specific time period, excluding the government sector. It is a widely followed statistic that informs economic policy and business decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
Policymakers and analysts use GDP data to assess the overall health of the economy and inform decisions around fiscal and monetary policy.
Key Facts
- GDP accounts for over 2/3 of U.S. economic activity.
- The U.S. GDP was approximately $23 trillion in 2021.
- GDP growth is a primary goal of economic policy.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of goods and services produced by the U.S. private sector over a 12-month period, excluding government activity.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of economic performance and a key input for policymakers and businesses when making decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use GDP data to assess the overall health of the economy and inform decisions around fiscal and monetary policy.
Q: Are there update delays or limitations?
A: There is typically a 1-2 month delay in the release of GDP data, and the figures are subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (PANDURMANNGSP), retrieved from FRED.