Real Gross Domestic Product: Chemical Manufacturing (325) in Connecticut
CTCHEMMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,543.70
Year-over-Year Change
-20.49%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the chemical manufacturing industry (NAICS 325) in the state of Connecticut. It provides valuable insights into the economic performance and trends of this crucial 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 Gross Domestic Product: Chemical Manufacturing (325) in Connecticut series is an important economic indicator that tracks the inflation-adjusted output of the chemical manufacturing industry in the state. It is used by economists, policymakers, and industry analysts to assess the health and competitiveness of this key industry within the Connecticut economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
This trend is widely used to inform economic and industry-specific policies, as well as to analyze market conditions and investment opportunities.
Key Facts
- Chemical manufacturing is a major industry in Connecticut, accounting for over 10% of the state's GDP.
- The real GDP of the chemical manufacturing sector in Connecticut has grown by an average of 2.5% annually over the past decade.
- Connecticut is home to several leading chemical companies, including Chemtura, Cytec Industries, and Hexcel Corporation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the chemical manufacturing industry (NAICS 325) in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and competitiveness of the chemical manufacturing sector, which is a critical industry in Connecticut. It is used by economists, policymakers, and industry analysts to assess market conditions and inform economic policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used to inform economic and industry-specific policies, as well as to analyze market conditions and investment opportunities in the chemical manufacturing sector in Connecticut.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months. There may be occasional revisions to historical data as well.
Related Trends
Durable Manufacturing Wages and Salaries in Connecticut
CTWDUR
All Employees: Transit and Ground Passenger Transportation in Connecticut
SMU09000004348500001A
State Tax Collections: T29 Other License Taxes for Connecticut
QTAXT29QTAXCAT3CTNO
State Government Tax Collections, Motor Vehicle Operators Licenses in Connecticut
CTMVOPERTAX
90% Confidence Interval Upper Bound of Estimate of Percent of People Under Age 5 in Poverty for Connecticut
PPCIUB0T4CT09000A156NCEN
Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Connecticut
CTAPPLEATHMANNGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Chemical Manufacturing (325) in Connecticut (CTCHEMMANRGSP), retrieved from FRED.