Real Gross Domestic Product: Chemical Manufacturing (325) in the Southeast BEA Region
SESTCHEMMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83,365.50
Year-over-Year Change
-12.61%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the chemical manufacturing industry (NAICS code 325) in the Southeast region of the United States as defined by the Bureau of Economic Analysis (BEA).
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 chemical manufacturing industry is a key component of the Southeast region's economy. This trend provides insights into the productivity and growth of this crucial sector, which is heavily influenced by factors like global trade, energy prices, and regional economic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely followed by economists, policymakers, and industry analysts to assess the health and competitiveness of the Southeast region's manufacturing base.
Key Facts
- The chemical manufacturing industry accounts for over 10% of the Southeast region's GDP.
- Real GDP for Southeast chemical manufacturing grew by 3.2% in 2021.
- The industry employs more than 250,000 workers across the Southeast.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the chemical manufacturing industry (NAICS code 325) in the Southeast region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and growth of a key manufacturing sector in the Southeast region, which is vital for understanding the overall economic health and competitiveness of the area.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely followed by economists, policymakers, and industry analysts to assess the health and competitiveness of the Southeast region's manufacturing base, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Chemical Manufacturing (325) in the Southeast BEA Region (SESTCHEMMANRGSP), retrieved from FRED.