Gross Domestic Product: Paper Manufacturing (322) in Rhode Island
RIPAPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.60
Year-over-Year Change
30.24%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) of the paper manufacturing industry (NAICS 322) in the state of Rhode Island. It provides valuable insights into the economic performance and competitiveness of this key manufacturing sector within the state.
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: Paper Manufacturing (322) in Rhode Island series tracks the total economic output of the paper manufacturing industry in the state. It is an important indicator of the sector's contribution to the overall state economy and can be used to analyze trends, identify growth opportunities, and inform policymaking decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is closely monitored by policymakers, industry analysts, and investors to assess the health and competitiveness of Rhode Island's manufacturing base.
Key Facts
- Rhode Island's paper manufacturing industry contributed $336 million to the state's GDP in 2020.
- The paper manufacturing sector accounts for 1.7% of Rhode Island's total economic output.
- GDP in the paper manufacturing industry has declined by 12% in Rhode Island since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the paper manufacturing industry (NAICS 322) in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and competitiveness of the paper manufacturing sector within Rhode Island, which is an important component of the state's manufacturing base.
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 principles.
Q: How is this trend used in economic policy?
A: This economic trend is closely monitored by policymakers, industry analysts, and investors to assess the health and competitiveness of Rhode Island's manufacturing base and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated annually by the U.S. Bureau of Economic Analysis, with a typical delay of 6-12 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Paper Manufacturing (322) in Rhode Island (RIPAPMANNGSP), retrieved from FRED.