Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Utah
UTDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,655.30
Year-over-Year Change
7.37%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Utah measures the economic output of the durable goods manufacturing sector in the state. It is a key indicator of the strength and productivity of Utah's manufacturing industry.
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 real, inflation-adjusted value of goods produced by durable goods manufacturers in Utah, including industries like computer and electronic product manufacturing, transportation equipment, and furniture. Economists and policymakers use this metric to gauge the health and competitiveness of the state's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production, sales, and other economic indicators.
Historical Context
Trends in this metric are closely watched by state and federal officials to inform economic and industrial policies.
Key Facts
- Utah's durable goods manufacturing sector accounts for over 10% of the state's GDP.
- Durable goods production has grown by 20% in Utah over the past decade.
- The COVID-19 pandemic caused a temporary 5% decline in durable goods output in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) of the durable goods manufacturing sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: Trends in durable goods manufacturing are a key indicator of the health and competitiveness of a state's industrial base, making this metric highly relevant for economic analysts, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using production, sales, and other economic indicators.
Q: How is this trend used in economic policy?
A: State and federal officials closely monitor trends in durable goods manufacturing to inform policies related to industrial development, workforce training, and international trade.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 2-3 months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Utah (UTDURMANRQGSP), retrieved from FRED.