Gross Domestic Product: Paper Manufacturing (322) in Alabama
ALPAPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,652.80
Year-over-Year Change
42.27%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) of the paper manufacturing industry (NAICS 322) in the state of Alabama. It provides insights into the economic performance and contribution 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 Gross Domestic Product: Paper Manufacturing (322) in Alabama series tracks the total value of goods and services produced by the paper manufacturing industry in the state. It is an important indicator of the industry's economic activity and competitiveness within the broader Alabama economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is used by policymakers, economists, and industry analysts to monitor the health and trends within Alabama's paper manufacturing sector.
Key Facts
- Alabama is a major paper-producing state, ranking among the top 10 nationwide.
- The paper manufacturing industry accounts for over 20,000 jobs in Alabama.
- GDP in Alabama's paper sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total gross domestic product (GDP) generated by the paper manufacturing industry (NAICS 322) in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the economic performance and contribution of Alabama's paper manufacturing sector, which is a key component of the state's industrial base.
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: Policymakers, economists, and industry analysts use this metric to monitor the health and trends within Alabama's paper manufacturing sector, informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most current economic conditions. Additionally, the series only covers the paper manufacturing industry and does not include broader manufacturing or economic trends.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Paper Manufacturing (322) in Alabama (ALPAPMANNGSP), retrieved from FRED.