Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Hawaii
HIMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.61
Year-over-Year Change
27.45%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Hawaii measures the real output of the manufacturing sector in the state. This provides insight into the overall health and productivity of Hawaii's manufacturing 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
This index tracks the quantity of real, inflation-adjusted GDP generated by the manufacturing industries in Hawaii, including sectors such as food processing, textiles, and machinery. It is an important economic indicator used by policymakers and analysts to monitor manufacturing trends and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production indexes and deflators.
Historical Context
Trends in this manufacturing index can signal broader shifts in Hawaii's economy and help guide policy decisions.
Key Facts
- Hawaii's manufacturing sector accounts for 2% of the state's GDP.
- The manufacturing index has risen by 15% over the past decade.
- Food processing is the largest component of Hawaii's manufacturing activity.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Hawaii measures the real, inflation-adjusted output of the manufacturing sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This manufacturing index provides insight into the health and productivity of a key sector of Hawaii's economy, which is important for policymakers, investors, and economists analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production indexes and deflators.
Q: How is this trend used in economic policy?
A: Trends in Hawaii's manufacturing index can signal broader shifts in the state's economy and help guide policy decisions around economic development, trade, and workforce training.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Hawaii (HIMANQGSP), retrieved from FRED.