Gross Domestic Product: Paper Manufacturing (322) in South Dakota
SDPAPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.10
Year-over-Year Change
41.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the paper manufacturing industry (NAICS 322) in South Dakota. It provides insight into the performance and contribution of this key manufacturing sector to the state's overall economic activity.
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 Gross Domestic Product: Paper Manufacturing (322) in South Dakota series represents the total economic output of the paper manufacturing industry in the state. It is a valuable indicator for analyzing the relative strength and growth of this industry compared to other sectors and can inform policy decisions related to economic development and industrial strategy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP by industry estimates.
Historical Context
This trend is used by policymakers, economists, and industry analysts to track the health and competitiveness of South Dakota's paper manufacturing sector.
Key Facts
- Paper manufacturing accounts for over 5% of South Dakota's total GDP.
- South Dakota's paper industry GDP has grown by 3.2% annually over the past 5 years.
- The paper sector employs over 2,500 workers in South Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the paper manufacturing industry (NAICS 322) in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and economic contribution of South Dakota's paper manufacturing sector, which is an important part of the state's industrial base.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP by industry estimates.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this trend to track the health and competitiveness of South Dakota's paper manufacturing sector, which can inform economic development strategies and industrial policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately 1 year, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Paper Manufacturing (322) in South Dakota (SDPAPMANNGSP), retrieved from FRED.