Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Wisconsin
WIFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86.60
Year-over-Year Change
-9.77%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Wisconsin measures the inflation-adjusted output of this industry in the state. It is a key indicator of manufacturing activity and economic growth.
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 the real, volume-based production of fabricated metal products in Wisconsin, a critical industrial sector. It is used by economists and policymakers to assess the health and trends of the state's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys of manufacturing establishments.
Historical Context
Trends in this index can inform decisions around economic and industrial policies.
Key Facts
- Wisconsin is a top state for fabricated metal production.
- This index has grown by over 20% since 2010.
- Fabricated metal accounts for 10% of Wisconsin's total GDP.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the fabricated metal product manufacturing industry in Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the health and performance of a critical manufacturing sector in the state, which is important for assessing economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects survey data from manufacturing establishments and calculates this index.
Q: How is this trend used in economic policy?
A: Trends in this index can inform decisions around policies targeting industrial development, workforce training, and economic incentives in Wisconsin.
Q: Are there update delays or limitations?
A: This 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: Fabricated Metal Product Manufacturing (332) in Wisconsin (WIFABRMETQGSP), retrieved from FRED.