Real Gross Domestic Product: Primary Metal Manufacturing (331) in Wisconsin
WIPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,826.60
Year-over-Year Change
66.86%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in the state of Wisconsin. It provides insights into the productivity and economic output of this key manufacturing sector within the state.
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: Primary Metal Manufacturing (331) in Wisconsin metric tracks the inflation-adjusted value of goods and services produced by this industry over time. It serves as an important indicator of the health and competitiveness of Wisconsin's primary metal manufacturing operations.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economists to assess the performance and outlook of Wisconsin's manufacturing economy.
Key Facts
- Wisconsin is a top-5 state for primary metal manufacturing output.
- This industry accounts for over 20,000 jobs in the state.
- Real GDP in this sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the primary metal manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and competitiveness of a key manufacturing sector within the Wisconsin economy, which is closely watched by policymakers, economists, and industry stakeholders.
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 trend is closely monitored by policymakers and analysts to assess the performance and outlook of Wisconsin's manufacturing economy, which has important implications for jobs, investment, and the state's overall economic growth.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month lag in the release of this data by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in Wisconsin (WIPRIMETMANRGSP), retrieved from FRED.