Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Utah
UTPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
663.80
Year-over-Year Change
54.26%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Utah. It provides insight 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 Utah metric tracks the inflation-adjusted economic output of this industry in the state. It is an important indicator for analyzing the strength and competitiveness of Utah's manufacturing capabilities, as well as its ability to meet evolving consumer and industrial demand.
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 trend is widely used by economists, policymakers, and industry analysts to assess the health and trajectory of Utah's manufacturing sector and its contribution to the state's overall economic performance.
Key Facts
- Utah's plastics and rubber manufacturing industry accounts for over 10% of the state's total GDP.
- This sector has experienced average annual growth of 3.2% over the past decade.
- The plastics and rubber industry employs more than 18,000 workers in Utah.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: It provides crucial insights into the performance and growth of a key manufacturing sector within Utah's economy, which is important for assessing the state's overall economic health and competitiveness.
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: This trend is widely used by economists, policymakers, and industry analysts to assess the health and trajectory of Utah's manufacturing sector and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay.
Related Trends
Implicit Regional Price Deflator: Nonmetropolitan Portion for Utah
UTNMPIRPD
Personal Consumption Expenditures: Nondurable Goods for Utah
UTPCENDURG
All Employees: Education and Health Services: Social Assistance in Utah
SMU49000006562400001
Residential Carbon Dioxide Emissions, Residential for Utah
EMISSCO2VCLRCBUTA
All Employees: Mining, Logging, and Construction in Utah
SMS49000001500000001
Real Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Utah
UTAMUSERGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Utah (UTPLASRUBMANRGSP), retrieved from FRED.