Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Pennsylvania
PANMMPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,336.10
Year-over-Year Change
64.07%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Pennsylvania. It provides important insights into the economic performance and productivity of this key 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 nonmetallic mineral product manufacturing industry includes the production of items like glass, cement, ceramics, and other non-metal-based materials. Tracking the GDP of this industry offers valuable data on the health and competitiveness of Pennsylvania's manufacturing base.
Methodology
This GDP data is collected and calculated by the U.S. Bureau of Economic Analysis using production and sales information from surveyed manufacturers.
Historical Context
Policymakers and industry analysts closely monitor this economic indicator to assess the state's industrial performance and competitiveness.
Key Facts
- Pennsylvania is a leading producer of cement, glass, and other nonmetallic mineral products.
- This industry accounts for over 3% of Pennsylvania's total manufacturing GDP.
- Nonmetallic mineral manufacturing output has grown by 20% in Pennsylvania over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of this industry offers valuable data on the health and competitiveness of Pennsylvania's manufacturing base, which is a crucial component of the state's economy.
Q: How is this data collected or calculated?
A: This GDP data is collected and calculated by the U.S. Bureau of Economic Analysis using production and sales information from surveyed manufacturers.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this economic indicator to assess the state's industrial performance and competitiveness, informing decisions on economic development, trade, and workforce policies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Pennsylvania (PANMMPMANNGSP), retrieved from FRED.