Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Hawaii
HIFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.40
Year-over-Year Change
-18.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the fabricated metal product manufacturing industry in Hawaii. It provides insights into the performance and productivity of this important manufacturing 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: Fabricated Metal Product Manufacturing (332) in Hawaii series tracks the inflation-adjusted output of the fabricated metal product manufacturing industry in the state. This metric is used by economists and policymakers to assess the growth and competitiveness of Hawaii's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Trends in fabricated metal product manufacturing GDP are closely monitored for their implications on employment, investment, and trade in Hawaii's industrial sector.
Key Facts
- Hawaii's fabricated metal manufacturing GDP accounts for about 2% of the state's total economic output.
- This industry employs over 5,000 workers in Hawaii, or around 1% of the state's total employment.
- Real GDP in Hawaii's fabricated metal manufacturing sector has grown by an average of 1.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the fabricated metal product manufacturing industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: Trends in fabricated metal manufacturing GDP provide insights into the performance and competitiveness of this key industrial sector in Hawaii's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to assess the growth and development of Hawaii's manufacturing base and its implications for employment, investment, and trade.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Hawaii (HIFABRMETRGSP), retrieved from FRED.