Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in South Dakota
SDPLASRUBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.92
Year-over-Year Change
-65.26%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in South Dakota tracks the inflation-adjusted output of this 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
This index measures the real production volume of plastics and rubber products manufacturing in South Dakota, providing insight into the state's industrial activity and economic trends. It is a useful indicator for policymakers and analysts studying the manufacturing landscape.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Economists and policymakers monitor this index to assess the health of South Dakota's manufacturing base and its broader economic performance.
Key Facts
- South Dakota is a major producer of plastics and rubber products.
- Manufacturing accounts for over 10% of the state's GDP.
- This index has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the plastics and rubber products manufacturing sector in South Dakota.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the health and performance of a key manufacturing industry in the state, which is important for understanding South Dakota's broader economic conditions.
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 economists monitor this index to assess the strength of South Dakota's manufacturing base and inform decisions related to economic development, trade, and industrial policy.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in South Dakota (SDPLASRUBMANQGSP), retrieved from FRED.