Chain-Type Quantity Index for Real GDP: Paper Manufacturing (322) in Rhode Island
RIPAPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.59
Year-over-Year Change
-9.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Paper Manufacturing (322) in Rhode Island measures the inflation-adjusted output of the paper manufacturing industry in the state. This metric is a key indicator of economic activity and productivity in this important 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 Chain-Type Quantity Index is a statistical measure that tracks the real, inflation-adjusted changes in GDP output for a specific industry or geographic region. It is used by economists and policymakers to analyze economic trends and make informed decisions.
Methodology
This index is calculated by the U.S. Bureau of Economic Analysis using data on production, prices, and other economic indicators.
Historical Context
The paper manufacturing industry is a vital component of Rhode Island's economy, and this index provides insight into the sector's performance over time.
Key Facts
- Rhode Island is home to over 100 paper manufacturing establishments.
- The paper industry accounts for over $500 million in annual economic output in the state.
- This index has shown steady growth in paper manufacturing productivity since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the paper manufacturing industry in Rhode Island. It tracks changes in production and productivity over time.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and competitiveness of a key manufacturing sector in the Rhode Island 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 a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to evaluate the health of Rhode Island's manufacturing base and inform decisions around economic development and industry support.
Q: Are there update delays or limitations?
A: This index is updated quarterly by the Federal Reserve, with a typical 1-2 month delay in data availability.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Paper Manufacturing (322) in Rhode Island (RIPAPMANQGSP), retrieved from FRED.