Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Wisconsin
WINDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.03
Year-over-Year Change
11.34%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Wisconsin measures the inflation-adjusted production of nondurable manufacturing industries in the state. It is an important economic indicator for understanding regional industrial activity and productivity.
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 provides a comprehensive measure of the volume of output from nondurable goods manufacturing industries in Wisconsin, such as food, beverage, textile, and chemical production. It allows economists and policymakers to track changes in the state's manufacturing sector and assess its contribution to overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This index is widely used by analysts and institutions to monitor Wisconsin's manufacturing competitiveness and the health of its industrial base.
Key Facts
- The index has a base year of 2012.
- Nondurable goods account for about 30% of Wisconsin's total manufacturing output.
- The state's nondurable manufacturing sector employs over 150,000 workers.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted production volume of nondurable goods manufacturing industries in the state of Wisconsin, including sectors like food, textiles, and chemicals.
Q: Why is this trend relevant for users or analysts?
A: The nondurable manufacturing index is an important indicator of Wisconsin's industrial activity and productivity, providing insights into a key sector of the state's 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: This index is widely used by analysts, policymakers, and institutions to monitor Wisconsin's manufacturing competitiveness and the health of its industrial base, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Wisconsin (WINDURMANQGSP), retrieved from FRED.