Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Washington
WAPRIMETMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
165.58
Year-over-Year Change
68.76%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Washington measures the volume of economic output for this industry in the state. It is an important indicator for analyzing regional economic trends 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
This index tracks changes in the real, inflation-adjusted value of goods and services produced by the primary metal manufacturing industry in Washington. It is used by economists and policymakers to assess the state's industrial performance and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This metric informs decisions around economic development, trade, and industrial policy in Washington.
Key Facts
- Washington is a major hub for primary metal manufacturing.
- This index has shown steady growth since the 2008 recession.
- Manufacturing accounts for over 10% of Washington's GDP.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted output of the primary metal manufacturing industry in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the productivity and competitiveness of a key manufacturing sector in the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This metric informs decisions around economic development, trade, and industrial policy in Washington.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Washington (WAPRIMETMANQGSP), retrieved from FRED.