Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Alabama
ALNMMPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,511.10
Year-over-Year Change
68.74%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in Alabama. It provides insights into the productivity and economic output 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: Nonmetallic Mineral Product Manufacturing (327) in Alabama series tracks the inflation-adjusted value added by the nonmetallic mineral product manufacturing industry to the state's overall economic output. This metric is used by economists and policymakers to assess the health and competitiveness of Alabama's manufacturing base.
Methodology
The data is calculated based on reports from businesses and government agencies in the nonmetallic mineral product manufacturing industry.
Historical Context
This trend is relevant for understanding Alabama's industrial composition and competitiveness compared to other states.
Key Facts
- Alabama is a leading producer of nonmetallic mineral products.
- The nonmetallic mineral product manufacturing industry accounts for a significant portion of Alabama's GDP.
- This trend can signal shifts in the state's industrial composition and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and economic output of a key manufacturing sector in Alabama, which is useful for assessing the state's industrial competitiveness and economic composition.
Q: How is this data collected or calculated?
A: The data is calculated based on reports from businesses and government agencies in the nonmetallic mineral product manufacturing industry.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the health and performance of Alabama's manufacturing base, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates from the Federal Reserve, and there may be lags in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Alabama (ALNMMPMANRGSP), retrieved from FRED.