Chain-Type Quantity Index for Real GDP: Apparel, Leather, and Allied Product Manufacturing (315-316) in South Dakota
SDAPPLEATHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
162.76
Year-over-Year Change
-87.43%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Apparel, Leather, and Allied Product Manufacturing (315-316) in South Dakota measures the real output of this economic 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
This index provides a gauge of the production volume and growth trends in South Dakota's apparel, leather, and allied products manufacturing industries, which are important contributors to the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Policymakers and industry analysts use this index to monitor the health and competitiveness of South Dakota's manufacturing sector.
Key Facts
- South Dakota's apparel and leather manufacturing accounts for over 3% of the state's GDP.
- This index has shown steady growth over the past decade, reflecting the sector's importance.
- The index is used to assess the competitiveness of South Dakota's manufacturing exports.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of South Dakota's apparel, leather, and allied products manufacturing industries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and growth of an important manufacturing sector in the South Dakota economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to monitor the competitiveness and health of South Dakota's manufacturing exports.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, with a typical 1-2 month release delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Apparel, Leather, and Allied Product Manufacturing (315-316) in South Dakota (SDAPPLEATHMANQGSP), retrieved from FRED.