Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Tennessee
TNFABRMETNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,450.20
Year-over-Year Change
62.75%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the fabricated metal product manufacturing industry (NAICS 332) in the state of Tennessee. It provides valuable insights into the performance and contribution of this key manufacturing sector to the state's economy.
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 TNFABRMETNGSP series tracks the total economic output or GDP generated by fabricated metal product manufacturing businesses in Tennessee. This industry includes establishments that transform metal into intermediate or end products, other than machinery, computers and electronics, and metal furniture.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP by industry program.
Historical Context
Analysts and policymakers use this metric to assess the health and competitiveness of Tennessee's manufacturing base and inform economic development strategies.
Key Facts
- Tennessee's fabricated metal manufacturing GDP was $7.9 billion in 2021.
- This industry accounts for 3.2% of Tennessee's total economic output.
- Fabricated metal manufacturing employment in Tennessee has grown by 12% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or Gross Domestic Product (GDP) of the fabricated metal product manufacturing industry (NAICS 332) in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and competitiveness of a key manufacturing sector in Tennessee, enabling analysts and policymakers to assess the state's industrial base and inform economic 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 as part of its state-level GDP by industry program.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the health and competitiveness of Tennessee's manufacturing base and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 1-2 quarters behind the current period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Tennessee (TNFABRMETNGSP), retrieved from FRED.