Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Hawaii
HIPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.30
Year-over-Year Change
-22.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Hawaii. It provides insights into the performance and growth of this important manufacturing sector within the state's 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
The Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Hawaii series tracks the inflation-adjusted output of the plastics and rubber products manufacturing industry in the state. This metric is used by economists and policymakers to assess the productivity and competitiveness of this manufacturing segment.
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 relevant for understanding Hawaii's industrial composition and identifying opportunities for economic development and policy interventions.
Key Facts
- Hawaii's plastics and rubber manufacturing GDP peaked in 2007.
- This industry accounts for less than 1% of Hawaii's total economic output.
- Real GDP in this sector declined by 20% between 2007 and 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product of the plastics and rubber products manufacturing industry in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and competitiveness of an important manufacturing segment within Hawaii's economy, which is useful for economic development planning and policy analysis.
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 relevant for understanding Hawaii's industrial composition and identifying opportunities for economic development and policy interventions targeted at the plastics and rubber manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to historical figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Hawaii (HIPLASRUBMANRGSP), retrieved from FRED.