Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Alabama
ALMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.97
Year-over-Year Change
27.47%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Alabama measures the real output of the manufacturing sector in the state, adjusted for inflation. This metric is a key indicator of the health and productivity of Alabama'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 Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Alabama is a measure of the real, inflation-adjusted output of the manufacturing sector in the state. It provides insight into the productivity and performance of this important component of Alabama's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This index is used by economists, policymakers, and industry analysts to assess the state of Alabama's manufacturing sector and its contribution to overall economic growth.
Key Facts
- The base year for this index is 2012.
- Manufacturing accounts for over 17% of Alabama's GDP.
- The index reached a record high in 2018.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Alabama measures the real, inflation-adjusted output of the manufacturing sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and performance of Alabama's manufacturing industry, which is a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this index to assess the state of Alabama's manufacturing sector and its contribution to overall economic growth, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Alabama (ALMANQGSP), retrieved from FRED.