Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Connecticut
CTFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,537.30
Year-over-Year Change
8.95%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in Connecticut. It provides insight into the productivity and growth of this important manufacturing sector within 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 (GDP) for Food and Beverage and Tobacco Product Manufacturing (311-312) in Connecticut is a key indicator of economic activity and productivity in this industry. It is used by economists and policymakers to analyze trends and assess the overall health of Connecticut's manufacturing base.
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 closely monitored by state and federal officials to inform economic policy and business investment decisions.
Key Facts
- Connecticut's food and beverage manufacturing sector accounts for over 25,000 jobs.
- This industry contributed $8.2 billion to Connecticut's GDP in 2021.
- The real GDP of this sector has grown by 14% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and growth of a key manufacturing sector within Connecticut's economy, which is useful for economists, policymakers, and businesses.
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 trend is closely monitored by state and federal officials to inform economic policy and business investment decisions in Connecticut.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Connecticut (CTFOODBEVTOBMANRGSP), retrieved from FRED.