Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in South Dakota
SDFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.90
Year-over-Year Change
76.12%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in South Dakota measures the real output of this industry sector in the state. This metric provides insight into the productivity and growth of a key component of South Dakota's economy.
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 tracks changes in the real, inflation-adjusted output of the food, beverage, and tobacco product manufacturing industries in South Dakota. This data series is used by economists and policymakers to analyze the performance and competitiveness of this important manufacturing segment within the state.
Methodology
The index is calculated based on production data collected by the U.S. Census Bureau.
Historical Context
This metric offers insight into a vital part of South Dakota's industrial base and can inform economic development strategies.
Key Facts
- South Dakota's food and beverage manufacturing accounts for over 10% of the state's GDP.
- This industry employs more than 15,000 workers in South Dakota.
- The Chain-Type Quantity Index has shown steady growth in this sector over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in South Dakota measures the real, inflation-adjusted output of this industry sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the productivity and competitiveness of a key manufacturing segment within South Dakota's economy, which can inform economic development strategies.
Q: How is this data collected or calculated?
A: The index is calculated based on production data collected by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This metric offers policymakers and analysts a way to track the performance of South Dakota's food, beverage, and tobacco manufacturing industries, which can inform decisions around industrial policy, workforce development, and other economic initiatives.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but may be subject to revisions and can have a lag time of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in South Dakota (SDFOODBEVTOBMANQGSP), retrieved from FRED.