Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Hawaii
HITEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.01
Year-over-Year Change
13.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Hawaii measures the real output of the textile industry in Hawaii. This economic indicator is important for understanding the state's manufacturing sector and overall economic conditions.
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 real, inflation-adjusted production of textile mills and textile product mills in Hawaii. It is a component of the state's overall real Gross Domestic Product (GDP), providing insight into the performance and competitiveness of this key industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using information on production, sales, and other economic indicators.
Historical Context
Policymakers and businesses use this metric to gauge the health of Hawaii's manufacturing base and make informed decisions.
Key Facts
- Hawaii's textile industry accounts for a small but significant portion of the state's GDP.
- The index has shown moderate growth in recent years, indicating a stable manufacturing sector.
- Textile production is an important part of Hawaii's diversified economy.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of textile mills and textile product manufacturers in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Hawaii's manufacturing sector, which is an important component of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using information on production, sales, and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to gauge the health of Hawaii's manufacturing base and make informed decisions about economic development and investment.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other economic indicators published by the U.S. government.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Hawaii (HITEXTQGSP), retrieved from FRED.