Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Tennessee
TNNDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,223.90
Year-over-Year Change
65.75%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the nondurable goods manufacturing sector in Tennessee. It provides insights into the overall health and performance of this key industry within 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 Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Tennessee series tracks the total value of goods produced by industries such as food, beverage, textile, apparel, paper, and chemical manufacturing in the state. This metric is widely used by economists and policymakers to analyze regional economic trends and inform decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is closely monitored by state and federal officials to assess the competitiveness and outlook of Tennessee's manufacturing sector.
Key Facts
- Tennessee's nondurable goods manufacturing sector accounts for over 10% of the state's total GDP.
- The industry employs more than 200,000 workers in Tennessee.
- GDP in this sector has grown by an average of 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Tennessee, including industries such as food, beverage, textile, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key manufacturing industry within Tennessee's economy, which is closely tracked by policymakers and economists.
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: State and federal officials closely monitor this indicator to assess the outlook and competitiveness of Tennessee's manufacturing sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately two months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Tennessee (TNNDURMANNGSP), retrieved from FRED.