Gross Domestic Product: Manufacturing (31-33) in Wisconsin
WIMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73,734.80
Year-over-Year Change
36.63%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Manufacturing (31-33) in Wisconsin measures the total economic output of the manufacturing sector in the state. It is a key indicator of the health and productivity of Wisconsin's manufacturing industry.
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 series represents the value added by the manufacturing sector in Wisconsin, which includes industries such as food processing, machinery production, and automotive parts. It is used by economists and policymakers to analyze regional economic trends and guide decision-making.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and tax records.
Historical Context
The manufacturing GDP trend provides important insights into Wisconsin's economic competitiveness and the effectiveness of policies targeting the state's industrial base.
Key Facts
- Manufacturing accounts for over 16% of Wisconsin's GDP.
- Wisconsin's manufacturing GDP grew by 3.2% in 2021.
- The state is a leader in the production of machinery, food, and transportation equipment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output of the manufacturing sector in the state of Wisconsin, including industries like food processing, machinery, and automotive parts.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing GDP trend provides important insights into Wisconsin's economic competitiveness and the effectiveness of policies targeting the state's industrial base.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and tax records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze regional economic trends and guide decision-making related to Wisconsin's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Wisconsin (WIMANNGSP), retrieved from FRED.