Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Tennessee
TNPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,093.40
Year-over-Year Change
81.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Tennessee. It provides insights into the performance and economic contribution of this important manufacturing sector within 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 Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Tennessee series tracks the total value of goods and services produced by this industry in the state. It is a key indicator of the overall health and productivity of the plastics and rubber manufacturing industry, which is a significant component of Tennessee's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is closely monitored by policymakers, industry analysts, and businesses to understand the dynamics of Tennessee's manufacturing sector and inform economic policy decisions.
Key Facts
- Tennessee is a major hub for plastics and rubber manufacturing in the U.S.
- This industry accounts for over 5% of the state's total GDP.
- Plastics and rubber products manufacturing employs more than 30,000 workers in Tennessee.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the plastics and rubber products manufacturing industry in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and economic contribution of a key manufacturing sector in Tennessee, which is important for understanding the state's overall economic dynamics.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and businesses use this trend to monitor the health of Tennessee's manufacturing sector and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two to three months, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Tennessee (TNPLASRUBMANNGSP), retrieved from FRED.