Chain-Type Quantity Index for Real GDP: Paper Manufacturing (322) in the Great Lakes BEA Region
GLAKPAPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.36
Year-over-Year Change
-0.56%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Paper Manufacturing (322) in the Great Lakes BEA Region measures the real output of the paper manufacturing industry in the Great Lakes region of the United States. This metric is important for economists and policymakers to understand regional economic trends and productivity.
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 index tracks the quantity of real GDP generated by the paper manufacturing industry in the Great Lakes region, which encompasses several Midwestern states. It provides a more granular view of economic activity compared to national-level metrics and can inform decisions around infrastructure, workforce, and industrial policy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Analysts use this regional production index to assess the competitiveness and performance of the paper manufacturing sector within the broader Great Lakes economy.
Key Facts
- The Great Lakes region accounts for over 20% of U.S. paper manufacturing output.
- Paper production has declined in the region since the early 2000s due to global competition.
- The index tracks changes in real output, adjusting for inflation.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or quantity, of GDP generated by the paper manufacturing industry in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This regional metric provides important insights into the performance and competitiveness of the paper manufacturing sector, which can inform policy and business decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this index to assess the health of the paper manufacturing industry and make decisions around infrastructure, workforce, and industrial policies in the Great Lakes region.
Q: Are there update delays or limitations?
A: There may be a lag of several months before the latest data is published, and the index only covers the paper manufacturing industry in the Great Lakes region.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Paper Manufacturing (322) in the Great Lakes BEA Region (GLAKPAPMANQGSP), retrieved from FRED.