Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in South Carolina
SCFURNMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
523.70
Year-over-Year Change
120.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the furniture and related product manufacturing industry in South Carolina. It provides insights into the productivity and economic output 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 Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in South Carolina series tracks the inflation-adjusted value of goods and services produced by this industry in the state. It is a key indicator of the sector's economic performance and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic development organizations to assess the health and competitiveness of South Carolina's manufacturing base.
Key Facts
- South Carolina is a major hub for furniture manufacturing.
- The furniture industry employs over 20,000 workers in the state.
- Real GDP in this sector grew by 4.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the furniture and related product manufacturing industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and economic output of a key manufacturing sector in South Carolina, which is important for assessing the state's economic health and competitiveness.
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 trend is closely monitored by policymakers, industry analysts, and economic development organizations to assess the health and competitiveness of South Carolina's manufacturing base.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in South Carolina (SCFURNMANRGSP), retrieved from FRED.