Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Wisconsin
WIFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,509.30
Year-over-Year Change
80.82%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the food, beverage, and tobacco manufacturing industries in Wisconsin. It provides insight into the productivity and economic output of this key sector.
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 GDP of the food, beverage, and tobacco manufacturing industries in Wisconsin represents the total value of goods and services produced by these businesses. This measure is used to gauge the overall health and growth of this important manufacturing segment within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Analysts and policymakers monitor this trend to understand Wisconsin's industrial output and make informed decisions.
Key Facts
- Wisconsin is a top producer of dairy, processed foods, and beverages.
- The food and beverage manufacturing sector accounts for over 10% of the state's GDP.
- This industry employs more than 70,000 workers in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the food, beverage, and tobacco manufacturing industries in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic output of a key manufacturing sector in Wisconsin, which is useful for understanding the state's industrial base and economic growth.
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: Analysts and policymakers monitor this trend to understand Wisconsin's industrial output and make informed decisions about economic development, workforce, and other policies.
Q: Are there update delays or limitations?
A: This data is published quarterly 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, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Wisconsin (WIFOODBEVTOBMANNGSP), retrieved from FRED.