Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Arkansas
ARNMMPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
465.60
Year-over-Year Change
56.56%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Arkansas. 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 nonmetallic mineral product manufacturing industry encompasses the production of a wide range of materials, including glass, cement, ceramics, and other non-metallic mineral products. Tracking the GDP of this industry in Arkansas offers valuable information about the state's industrial composition and economic diversification.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP by industry statistics.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Arkansas's manufacturing base.
Key Facts
- Arkansas's nonmetallic mineral product manufacturing industry accounted for $1.2 billion in GDP in 2021.
- This industry represents approximately 3% of the state's total GDP.
- The sector has experienced steady growth over the past decade, reflecting Arkansas's strong construction and industrial base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of this industry offers valuable insights into the economic performance and competitiveness of a key manufacturing sector in Arkansas, which is important for policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Arkansas's manufacturing base, which is crucial for informing economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Arkansas (ARNMMPMANNGSP), retrieved from FRED.