Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in the Southeast BEA Region
SESTFURNMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.76
Year-over-Year Change
0.08%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in the Southeast BEA Region measures the production volume of the furniture manufacturing industry in the Southeast United States. This trend is a key indicator of economic activity and productivity in this important 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 changes in the real, inflation-adjusted output of furniture and related product manufacturers in the Southeast region, which encompasses several states. It is a valuable metric for evaluating the performance and competitiveness of this industry within the broader regional economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting procedures.
Historical Context
Policymakers and industry analysts closely monitor this index to assess the health and growth prospects of the furniture manufacturing sector.
Key Facts
- The Southeast BEA region includes Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia.
- Furniture manufacturing is a major employer and economic driver in the Southeast, with a long history and numerous globally competitive firms.
- The index is benchmarked to 2012 and published quarterly by the BEA.
FAQs
Q: What does this economic trend measure?
A: This trend measures the production volume or real output of the furniture and related product manufacturing industry in the Southeast region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of economic activity and productivity in the furniture manufacturing sector, which is an important part of the regional economy in the Southeast.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting procedures.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this index to assess the health and growth prospects of the furniture manufacturing sector, which informs decisions related to economic development, trade, and workforce policies.
Q: Are there update delays or limitations?
A: The index is published quarterly by the BEA, with a typical release lag of 1-2 months after the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in the Southeast BEA Region (SESTFURNMANQGSP), retrieved from FRED.