Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Hawaii
Annual, Not Seasonally Adjusted
HIMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.40
Year-over-Year Change
-18.08%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the nominal value of manufacturing shipments in the United States. This metric provides insight into the overall health and production levels of the U.S. manufacturing sector.
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 economic indicator tracks the total dollar value of manufactured goods shipped by U.S. producers on an annual basis, without adjusting for seasonal factors. It is a key measure of manufacturing activity and can signal shifts in industrial output, inventory levels, and broader economic trends.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this metric to assess the performance and trajectory of the U.S. manufacturing industry.
Key Facts
- Manufacturing shipments reached a record high of $6.2 trillion in 2021.
- The COVID-19 pandemic caused a 6.4% drop in shipments in 2020.
- Durable goods account for approximately 60% of total manufacturing shipments.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the total nominal value of manufactured goods shipped by U.S. producers on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and production levels of the U.S. manufacturing sector, which is a key driver of economic growth and a crucial indicator for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the performance and trajectory of the U.S. manufacturing industry, which informs decisions related to trade, investment, and economic stimulus.
Q: Are there update delays or limitations?
A: The data is released on an annual basis, with a delay of several months, and may not fully capture seasonal variations in manufacturing activity.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (HIMINRGSP), retrieved from FRED.