Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Tennessee
TNFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,014.50
Year-over-Year Change
37.66%
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 industries in Tennessee. It provides insights into the productivity and output of a 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
The Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Tennessee metric tracks the inflation-adjusted value added by these industries to the state's overall economic output. It is a key indicator of industrial activity and competitiveness in the region.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts monitor this trend to assess the health and competitiveness of Tennessee's manufacturing base.
Key Facts
- Tennessee is a major U.S. hub for food and beverage production.
- This sector accounts for over 10% of the state's total manufacturing GDP.
- Output growth in this industry has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industries in the state of Tennessee.
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 Tennessee, which is important for policymakers, industry analysts, and economic stakeholders in the region.
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: Policymakers and industry analysts monitor this trend to assess the health and competitiveness of Tennessee's manufacturing base, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: There may be delays of several months in the release of this data as it is compiled by the statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Tennessee (TNFOODBEVTOBMANRGSP), retrieved from FRED.