Gross Domestic Product: Miscellaneous Manufacturing (339) in West Virginia
WVMISCMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
193.90
Year-over-Year Change
27.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) Miscellaneous Manufacturing (339) trend in West Virginia measures the total economic output of the state's miscellaneous manufacturing sector. This data is crucial for analyzing the health and competitiveness of West Virginia's manufacturing industry.
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 Miscellaneous Manufacturing (339) GDP series represents the total value added by West Virginia's diverse manufacturing subsectors, which include medical equipment, office supplies, and other goods. This metric provides insight into the state's economic diversification and productivity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP estimates.
Historical Context
Economists and policymakers use this trend to assess the performance and growth potential of West Virginia's manufacturing base.
Key Facts
- West Virginia's Miscellaneous Manufacturing GDP was $2.4 billion in 2020.
- The sector accounts for 3.4% of the state's total economic output.
- Miscellaneous Manufacturing GDP grew by 2.1% in West Virginia from 2019 to 2020.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) Miscellaneous Manufacturing (339) trend measures the total economic output of West Virginia's diverse manufacturing subsectors, including medical equipment, office supplies, and other goods.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the health and competitiveness of West Virginia's manufacturing industry, which is an important driver 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 state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the performance and growth potential of West Virginia's manufacturing base, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a delay of approximately three months, and may be subject to periodic revisions by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Manufacturing (339) in West Virginia (WVMISCMANNGSP), retrieved from FRED.