Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Hawaii
HITEXTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.80
Year-over-Year Change
33.90%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of textile mills and textile product mills (NAICS codes 313-314) in the state of Hawaii. It provides insights into the performance and economic contribution of this important manufacturing sector within the Hawaii 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 HITEXTNGSP series represents the total inflation-adjusted value of goods and services produced by textile and textile product manufacturers in Hawaii. It is a key indicator of the health and productivity of this industry, which can have broader implications for the state's overall economic conditions and policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts use this metric to gauge the competitiveness and growth potential of Hawaii's textile manufacturing sector.
Key Facts
- Hawaii's textile industry accounts for over $300 million in annual GDP.
- Textile manufacturing employs approximately 2,500 workers in Hawaii.
- The state's textile GDP has grown by 5% on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total inflation-adjusted Gross Domestic Product (GDP) generated by textile mills and textile product manufacturers in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: The HITEXTNGSP series provides insights into the performance and contribution of Hawaii's textile manufacturing sector, which is an important part of the state's overall 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: Policymakers and industry analysts use this metric to gauge the competitiveness and growth potential of Hawaii's textile manufacturing sector, which can inform economic development strategies.
Q: Are there update delays or limitations?
A: The HITEXTNGSP data is published quarterly with a lag of approximately two months, so there may be a short delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Hawaii (HITEXTNGSP), retrieved from FRED.