Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Arkansas
ARTEXTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.20
Year-over-Year Change
-7.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for textile mills and textile product mills in the state of Arkansas. It provides insight into the performance and contribution of this important manufacturing sector to the state's economy.
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: Textile Mills and Textile Product Mills (313-314) in Arkansas trend tracks the inflation-adjusted economic output of this industry group within the state. It is a key indicator for analyzing the health and competitiveness of Arkansas's textile manufacturing capabilities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely used by policymakers, industry analysts, and economic development agencies to monitor the state's manufacturing competitiveness and guide relevant policy decisions.
Key Facts
- Arkansas is a major textile manufacturing hub in the United States.
- The textile industry accounts for over 20,000 jobs in the state.
- Real GDP for textile mills and product mills has grown by 15% since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the textile mills and textile product mills industry group in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and competitiveness of Arkansas's textile manufacturing sector, which is a key part of the state's economy.
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, industry analysts, and economic development agencies use this trend to monitor the state's manufacturing capabilities and guide relevant policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis with a short delay, providing timely insights into the state's textile manufacturing performance.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Arkansas (ARTEXTRGSP), retrieved from FRED.