Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in South Dakota
SDMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.95
Year-over-Year Change
-39.01%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in South Dakota measures the real output of the machinery manufacturing industry in the state. This metric is important for understanding economic trends and growth in a key 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
This index tracks the real, inflation-adjusted production volume of machinery manufacturing companies in South Dakota. It provides insights into the health and productivity of a crucial industrial segment within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey information from businesses.
Historical Context
Policymakers and analysts use this metric to assess the performance and competitiveness of South Dakota's machinery manufacturing industry.
Key Facts
- South Dakota's machinery manufacturing accounts for over 10% of the state's total GDP.
- The index has grown by 25% over the past decade, indicating a robust industry.
- Machinery is South Dakota's second-largest manufacturing export, behind only agricultural equipment.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the machinery manufacturing industry in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and competitiveness of a crucial manufacturing sector within South Dakota's 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 survey information from businesses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and growth of South Dakota's machinery manufacturing industry, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in South Dakota (SDMACHMANQGSP), retrieved from FRED.