Gross Domestic Product: Miscellaneous Manufacturing (339) in Tennessee
TNMISCMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,600.20
Year-over-Year Change
55.92%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Miscellaneous Manufacturing (339) in Tennessee measure the economic output of this industry sector in the state. It is a key indicator of manufacturing activity and overall economic health.
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 series represents the total inflation-adjusted value added by the miscellaneous manufacturing (NAICS 339) industry in Tennessee. It is used by economists and policymakers to analyze trends in manufacturing and the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of businesses.
Historical Context
Trends in this metric can inform decisions around economic development, trade, and industrial policy in Tennessee.
Key Facts
- Tennessee's miscellaneous manufacturing sector accounts for over $10 billion in annual GDP.
- Miscellaneous manufacturing includes products like medical equipment, office supplies, and sporting goods.
- This industry has seen steady growth in Tennessee over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or GDP of the miscellaneous manufacturing industry (NAICS 339) in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: Trends in Tennessee's miscellaneous manufacturing GDP provide insights into the performance and competitiveness of this important industry sector within the state economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and calculated as the total inflation-adjusted value added by the miscellaneous manufacturing industry in Tennessee.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials can use this metric to inform decisions around supporting manufacturing, boosting competitiveness, and promoting job growth in Tennessee.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most current economic conditions. Additionally, the miscellaneous manufacturing category is broad and can be impacted by changes in a wide range of products and industries.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Manufacturing (339) in Tennessee (TNMISCMANNGSP), retrieved from FRED.