Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Connecticut
CTFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,740.80
Year-over-Year Change
-24.54%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) generated by the fabricated metal product manufacturing industry in Connecticut. It provides insight into the productivity and growth of this key industrial 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 Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Connecticut metric tracks the inflation-adjusted value of goods and services produced by this manufacturing subsector within the state. It is a vital indicator of economic performance and competitiveness.
Methodology
The data is calculated based on reports from businesses and government agencies on output and prices within the fabricated metal manufacturing industry.
Historical Context
This metric is closely monitored by policymakers, industry analysts, and investors to assess the health and trajectory of Connecticut's manufacturing economy.
Key Facts
- Connecticut is a major hub for fabricated metal manufacturing.
- This industry contributed over $5 billion to the state's GDP in 2021.
- Productivity in this sector has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) generated by the fabricated metal product manufacturing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: The fabricated metal manufacturing industry is a crucial component of Connecticut's economy, and this data provides important insights into its productivity, competitiveness, and growth trajectory.
Q: How is this data collected or calculated?
A: The data is calculated based on reports from businesses and government agencies on output and prices within the fabricated metal manufacturing industry.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors closely monitor this metric to assess the health and competitiveness of Connecticut's manufacturing sector and inform economic development strategies.
Q: Are there update delays or limitations?
A: This data is published on a quarterly basis, with a slight delay to allow for comprehensive reporting from businesses and government agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Connecticut (CTFABRMETRGSP), retrieved from FRED.