Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Hawaii
HIPETCOALMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
250.80
Year-over-Year Change
-8.60%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the petroleum and coal products manufacturing industry in Hawaii. It provides insights into the productivity and economic output 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: Petroleum and Coal Products Manufacturing (324) in Hawaii series tracks the inflation-adjusted value added by this industry to the overall state economy. It is a key indicator of the industry's performance and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This economic trend is monitored by policymakers, industry analysts, and investors to assess the health and outlook of Hawaii's energy and manufacturing sectors.
Key Facts
- Hawaii is a major hub for petroleum refining and coal processing.
- This industry accounts for a significant portion of the state's manufacturing GDP.
- Trends in this metric can signal shifts in Hawaii's energy and industrial sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the petroleum and coal products manufacturing industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic output of a key manufacturing sector in Hawaii, which has implications for the state's energy, industrial, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors monitor this trend to assess the health and outlook of Hawaii's energy and manufacturing sectors, which can inform economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Hawaii (HIPETCOALMANRGSP), retrieved from FRED.