Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Utah
UTNDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,095.40
Year-over-Year Change
12.97%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Utah. It provides insights into the performance and productivity of this key component of 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: Nondurable Goods Manufacturing (311-316, 322-326) in Utah metric tracks the inflation-adjusted output of industries such as food, beverage, textile, apparel, paper, printing, petroleum, and chemical manufacturing. This data point is valuable for assessing the health and competitiveness of Utah's nondurable goods production.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists monitor this trend to gauge the manufacturing sector's contribution to Utah's overall economic growth and competitiveness.
Key Facts
- Utah's nondurable goods manufacturing accounts for over 10% of the state's GDP.
- This sector employs more than 60,000 workers in Utah.
- Real GDP in Utah's nondurable goods manufacturing has grown by 20% 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 nondurable goods manufacturing sector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data point is valuable for assessing the health, productivity, and competitiveness of Utah's nondurable goods manufacturing industries, which are a key component of the state's economy.
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: Policymakers and economists monitor this trend to gauge the manufacturing sector's contribution to Utah's overall economic growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Utah (UTNDURMANRQGSP), retrieved from FRED.