Gross Domestic Product: Primary Metal Manufacturing (331) in Wisconsin
WIPRIMETMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,642.00
Year-over-Year Change
8.51%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the primary metal manufacturing industry in the state of Wisconsin. It provides insight 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: Primary Metal Manufacturing (331) in Wisconsin series tracks the total economic output generated by the primary metal manufacturing industry in the state. This data is used by economists and policymakers to analyze the health and competitiveness of Wisconsin's manufacturing base.
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 helps inform policy decisions and business strategies related to Wisconsin's manufacturing and industrial sectors.
Key Facts
- Wisconsin is a major center for primary metal manufacturing in the U.S.
- This industry accounts for over 10% of the state's total GDP.
- Primary metal production has a significant multiplier effect on Wisconsin's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the primary metal manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and competitiveness of a key manufacturing sector in Wisconsin, which is crucial 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: This indicator helps inform policy decisions and business strategies related to Wisconsin's manufacturing and industrial sectors.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, with typical update delays of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Primary Metal Manufacturing (331) in Wisconsin (WIPRIMETMANNGSP), retrieved from FRED.