Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Utah
UTNDURMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,961.30
Year-over-Year Change
5.47%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the Gross Domestic Product (GDP) of the nondurable goods manufacturing sector in the state of Utah. It provides valuable insights into the productivity and output of key industries within Utah'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 Nondurable Goods Manufacturing GDP in Utah tracks the total economic value added by industries such as food, beverage, and tobacco manufacturing, textile and apparel production, and paper and printing. This metric is used by economists and policymakers to assess the health and competitiveness of Utah's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This trend is important for understanding Utah's economic diversification and the relative performance of its manufacturing industries compared to other states.
Key Facts
- Utah's nondurable goods manufacturing GDP was $12.7 billion in 2020.
- This sector accounts for over 10% of Utah's total economic output.
- Food and beverage manufacturing is the largest nondurable goods industry in Utah.
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 Utah, including industries like food, textiles, and paper production.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and competitiveness of Utah's manufacturing base, which is an important driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and diversification of Utah's manufacturing sector and make informed decisions about economic development strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Federal Reserve with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Utah (UTNDURMANNQGSP), retrieved from FRED.