Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in South Carolina
SCTEXTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,145.60
Year-over-Year Change
-18.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of textile mills and textile product mills in South Carolina. It provides important insights into the performance and productivity of a key manufacturing sector in 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: Textile Mills and Textile Product Mills (313-314) in South Carolina series tracks the inflation-adjusted output of this critical industry cluster. It is a valuable indicator of economic conditions and competitiveness within the state's manufacturing base.
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 officials to gauge the health and competitiveness of South Carolina's textile manufacturing sector.
Key Facts
- South Carolina is a leading textile manufacturing state.
- Textile mills and textile product mills account for a significant portion of the state's GDP.
- This trend provides a barometer of productivity and competitiveness in a crucial industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of textile mills and textile product mills in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and productivity of a key manufacturing sector in South Carolina, which is essential for understanding the state's economic conditions 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 officials to gauge the health and competitiveness of South Carolina's textile manufacturing sector, which informs economic policies and strategies.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, but there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in South Carolina (SCTEXTRGSP), retrieved from FRED.