Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the Southeast BEA Region
SESTFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88,634.60
Year-over-Year Change
5.56%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in the Southeast Bureau of Economic Analysis (BEA) region. It provides insight into the productivity and output of a key manufacturing sector in the region.
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 Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the Southeast BEA Region metric tracks the inflation-adjusted economic output of this industry, offering a gauge of its growth and competitiveness. Economists and policymakers monitor this data to assess regional manufacturing performance and inform economic development strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is used to analyze regional economic trends and inform policy decisions related to manufacturing, trade, and economic development.
Key Facts
- The Southeast BEA region includes Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia.
- Food, beverage, and tobacco manufacturing is a major industry in the Southeast, accounting for over 10% of total regional GDP.
- Real GDP in this sector grew by 3.2% in the Southeast in 2021 compared to the national average of 2.7%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the food, beverage, and tobacco product manufacturing industry in the Southeast BEA region.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and competitiveness of a key manufacturing sector in the Southeast, which is important for understanding regional economic performance and informing development strategies.
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 metric is used by economists, policymakers, and analysts to monitor regional manufacturing activity and inform decisions related to economic development, trade, and industry-specific policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a typical release lag of 2-3 months. There may be revisions to prior-period estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the Southeast BEA Region (SESTFOODBEVTOBMANRGSP), retrieved from FRED.