Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Wisconsin
WIPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,525.80
Year-over-Year Change
-2.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Wisconsin. It provides insights into the productivity and economic performance of this key 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 Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Wisconsin series tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is a important indicator of the health and competitiveness of Wisconsin's plastics and rubber manufacturing businesses.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is closely monitored by policymakers, industry analysts, and businesses to understand the dynamics of Wisconsin's manufacturing economy.
Key Facts
- Wisconsin is a major hub for plastics and rubber manufacturing.
- This industry accounts for over 50,000 jobs in the state.
- The sector contributes billions to Wisconsin's annual economic output.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real (inflation-adjusted) gross domestic product of the plastics and rubber products manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: It provides crucial insights into the productivity and competitiveness of a key manufacturing sector in the Wisconsin 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, industry groups, and businesses closely monitor this indicator to understand the dynamics of Wisconsin's manufacturing economy and inform relevant policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Wisconsin (WIPLASRUBMANRGSP), retrieved from FRED.