Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Tennessee
TNPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,011.50
Year-over-Year Change
11.37%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Tennessee. It provides insights into the performance and growth of this crucial manufacturing sector 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 Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Tennessee series tracks the inflation-adjusted value-added output of this industry. It is an important indicator for evaluating the state's manufacturing capabilities, competitiveness, and economic diversification.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for policymakers, industry analysts, and investors seeking to understand Tennessee's manufacturing landscape and economic development.
Key Facts
- Tennessee is a major hub for plastics and rubber manufacturing.
- This industry contributed over $5 billion to the state's GDP in 2020.
- The sector has experienced steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of 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 insights into the performance and growth of a crucial manufacturing sector within Tennessee's economy, which is valuable for policymakers, industry analysts, and investors.
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: This trend is used by policymakers, economists, and industry stakeholders to assess Tennessee's manufacturing capabilities, competitiveness, and economic diversification.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve with a lag, typically several months after the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Tennessee (TNPLASRUBMANRGSP), retrieved from FRED.