Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Illinois
ILCPUELCPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,007.20
Year-over-Year Change
2.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Illinois measures the economic output of this key manufacturing sector in the state. It is an important indicator of Illinois' technological and industrial competitiveness.
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 series tracks the real, inflation-adjusted value of goods and services produced by computer and electronic product manufacturers in Illinois. It is a useful metric for understanding the state's economic composition and competitive position in high-tech industries.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price indexes.
Historical Context
Policymakers and business leaders use this trend to assess Illinois' industrial landscape and guide economic development strategies.
Key Facts
- Illinois is a national leader in computer and electronics manufacturing.
- This sector accounts for over 10% of the state's total economic output.
- The industry has seen steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by computer and electronic product manufacturing in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Illinois' high-tech manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price indexes.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this trend to assess Illinois' industrial landscape and guide economic development strategies focused on supporting the state's technological and manufacturing capabilities.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Illinois (ILCPUELCPMANRGSP), retrieved from FRED.