Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Hawaii
HIFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
541.60
Year-over-Year Change
39.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product of the food, beverage, and tobacco manufacturing industries in Hawaii. It provides insight into the productivity and economic performance of these key sectors.
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: Food and Beverage and Tobacco Product Manufacturing (311-312) in Hawaii indicator tracks the value-added output of these manufacturing industries in the state, adjusted for inflation. It is an important metric for understanding the broader economic conditions and competitiveness of Hawaii's food and beverage production.
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 policymakers, industry analysts, and investors to assess the health and growth potential of Hawaii's manufacturing base.
Key Facts
- Hawaii's food and beverage manufacturing sector accounts for over 10% of the state's total GDP.
- Real GDP in this industry has grown by an average of 3% annually over the past decade.
- The COVID-19 pandemic caused a 6% decline in 2020 before a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the food, beverage, and tobacco manufacturing industries in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the productivity and economic performance of these key manufacturing sectors in Hawaii, which are important drivers of the state's economy.
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 policymakers, industry analysts, and investors to assess the health and growth potential of Hawaii's manufacturing base.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Hawaii (HIFOODBEVTOBMANRGSP), retrieved from FRED.