Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Virginia
Annual, Not Seasonally Adjusted
VANDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,819.60
Year-over-Year Change
17.12%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the total value added by the manufacturing sector of the U.S. economy. This metric is a key indicator of overall economic health and productivity.
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 manufacturing value added captures the net output of the manufacturing industry, providing insight into the sector's contribution to the broader U.S. GDP. Economists and policymakers closely monitor this data to assess the strength and competitiveness of American manufacturing.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on establishment surveys and other economic indicators.
Historical Context
Manufacturing value added is used to inform economic and trade policies aimed at supporting domestic production and competitiveness.
Key Facts
- Manufacturing accounts for about 11% of U.S. GDP.
- The U.S. is the world's second-largest manufacturer after China.
- Manufacturing value added has grown by over 40% since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total value added by the manufacturing sector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing value added is a key indicator of overall economic health and productivity, providing insight into the strength and competitiveness of the U.S. manufacturing industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on establishment surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Manufacturing value added is used to inform economic and trade policies aimed at supporting domestic production and competitiveness.
Q: Are there update delays or limitations?
A: The data is released annually with a delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (VANDURMANNGSP), retrieved from FRED.