Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Wisconsin
WIFURNMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.88
Year-over-Year Change
-27.12%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Wisconsin measures the real output of the furniture manufacturing industry in the state. This metric is important for economists and policymakers to understand regional production trends and economic conditions.
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, inflation-adjusted output of the furniture and related products manufacturing sector in Wisconsin. It is a useful indicator of the overall health and productivity of this key regional industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting procedures.
Historical Context
Policymakers and analysts monitor this metric to assess the competitiveness and outlook for Wisconsin's manufacturing sector.
Key Facts
- Wisconsin is a major center of furniture production in the U.S.
- The furniture industry employs over 20,000 workers in the state.
- Output has fluctuated with broader economic conditions in recent years.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the furniture and related products manufacturing sector in Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and competitiveness of a key regional industry, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting procedures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the outlook for Wisconsin's manufacturing sector and broader regional economic conditions.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the latest data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Wisconsin (WIFURNMANQGSP), retrieved from FRED.