Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas
ARNDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,619.50
Year-over-Year Change
28.59%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Arkansas. It provides insight into the productivity and output of key industries 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 Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas is an economic indicator that tracks the inflation-adjusted output of the nondurable goods manufacturing industries within the state. This metric is useful for analyzing the performance and competitiveness of Arkansas's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists utilize this trend to assess the health and competitiveness of Arkansas's manufacturing industries and inform economic development strategies.
Key Facts
- Arkansas's nondurable goods manufacturing accounts for over 10% of the state's GDP.
- The sector employs more than 75,000 workers in Arkansas.
- Nondurable goods manufacturing includes industries like food, textiles, and plastics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and competitiveness of a key component of Arkansas's economy, which can inform economic development strategies 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: Policymakers and economists utilize this trend to assess the health and competitiveness of Arkansas's manufacturing industries and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most current economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Arkansas (ARNDURMANRGSP), retrieved from FRED.