Real Gross Domestic Product: Chemical Manufacturing (325) in Arkansas
ARCHEMMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,466.70
Year-over-Year Change
34.56%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product of the chemical manufacturing industry (NAICS 325) in the state of Arkansas. It is an important economic indicator for assessing the performance and competitiveness of a key manufacturing sector in 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 GDP of the chemical manufacturing industry in Arkansas provides insights into the overall economic health and productivity of this crucial industrial sector. It is used by policymakers, researchers, and businesses to analyze trends, make informed decisions, and develop strategies to support the state's economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is closely monitored by state and federal agencies, as well as industry organizations, to inform policy decisions and investment strategies.
Key Facts
- Arkansas is a major hub for the chemical manufacturing industry.
- The chemical sector accounts for a significant portion of the state's GDP.
- Trends in this metric can signal broader changes in the state's industrial performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product of the chemical manufacturing industry (NAICS 325) in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of a key manufacturing sector in Arkansas, which is crucial for economic analysis and policy decisions.
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 economic trend is closely monitored by state and federal agencies, as well as industry organizations, to inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Chemical Manufacturing (325) in Arkansas (ARCHEMMANRGSP), retrieved from FRED.