Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Wisconsin
WIPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,884.30
Year-over-Year Change
59.72%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Wisconsin. It provides insights into the performance and contribution of this key manufacturing sector to the state's overall economic activity.
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: Plastics and Rubber Products Manufacturing (326) in Wisconsin series tracks the total economic output generated by the plastics and rubber products manufacturing industry in the state. This metric is used by economists and policymakers to assess the health and competitiveness of this important manufacturing segment within Wisconsin's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This economic trend is valuable for understanding the role of the plastics and rubber products manufacturing industry in Wisconsin's broader economic landscape and informing policy decisions.
Key Facts
- Wisconsin is a major hub for plastics and rubber products manufacturing.
- This industry accounts for a significant portion of the state's total economic output.
- Trends in this sector can signal broader changes in Wisconsin's manufacturing landscape.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the plastics and rubber products 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 contribution of a key manufacturing sector within Wisconsin's economy, which is important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and competitiveness of the plastics and rubber products manufacturing industry in Wisconsin, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other GDP metrics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Wisconsin (WIPLASRUBMANNGSP), retrieved from FRED.