Gross Domestic Product: Private Goods-Producing Industries in Arkansas
ARPRIGOODPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41,361.10
Year-over-Year Change
64.28%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Private Goods-Producing Industries in Arkansas measures the total output of private-sector industries involved in the production of physical goods within the state of Arkansas. This metric is a key indicator of economic activity and growth.
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
This series represents the inflation-adjusted value added by Arkansas' private goods-producing industries, which include manufacturing, mining, and construction. It provides insights into the overall health and performance of the state's industrial production sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is widely used by policymakers, economists, and market analysts to assess Arkansas' economic conditions and make informed decisions.
Key Facts
- Arkansas' private goods-producing industries account for about 20% of the state's total GDP.
- Manufacturing is the largest component, contributing over 60% to the private goods-producing sector.
- The data is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total output or value added by private-sector industries involved in the production of physical goods within the state of Arkansas, such as manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall health and performance of Arkansas' industrial production sector, which is a key driver of the state's economy. It is widely used by policymakers, economists, and market analysts to assess economic conditions and make informed 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 indicator is used by policymakers, economists, and market analysts to assess Arkansas' economic conditions and make informed decisions regarding policies, investments, and market strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with some potential for slight delays in the release schedule.
Related Trends
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Gross Domestic Product: Transportation and Warehousing (48-49) in Arkansas
ARTRANSWARENQGSP
Other Deposits in Commercial Member Banks in Arkansas
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Administrative and Waste Services Earnings in Arkansas
AREADM
Chain-Type Quantity Index for Real GDP: Warehousing and Storage (493) in Arkansas
ARWARESTORQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Private Goods-Producing Industries in Arkansas (ARPRIGOODPRONGSP), retrieved from FRED.