Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Wisconsin
WIFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,018.60
Year-over-Year Change
14.12%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Wisconsin. It provides valuable insights into the health and performance of this important manufacturing 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 Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Wisconsin series tracks the total economic output of Wisconsin's furniture and related product manufacturing industry. This data is widely used by economists, policymakers, and industry analysts to assess the state's manufacturing capabilities and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is relevant for understanding Wisconsin's manufacturing landscape and informing policy decisions that affect the state's furniture production sector.
Key Facts
- Wisconsin is a major hub for furniture manufacturing in the U.S.
- The furniture industry accounts for a significant portion of the state's GDP.
- Trends in this sector reflect the broader manufacturing landscape in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the furniture and related product manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and health of Wisconsin's furniture manufacturing sector, which is an important part of the state's broader manufacturing landscape and economy.
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: Policymakers and economists use this trend to assess the competitiveness of Wisconsin's furniture manufacturing industry and inform decisions that affect the state's broader manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Wisconsin (WIFURNMANNGSP), retrieved from FRED.