Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Illinois
ILDURMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61,191.80
Year-over-Year Change
14.52%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Illinois measures the total economic output of the durable goods manufacturing sector in the state of Illinois. This metric is a key indicator of the health and performance of Illinois' manufacturing industry.
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 Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Illinois represents the total value added by the manufacturing of durable goods, including products like machinery, electronics, and transportation equipment, within the state's economy. This metric is used by economists and policymakers to analyze trends in Illinois' industrial production and competitiveness.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Trends in the durable goods manufacturing GDP are closely watched by investors and policymakers as an indicator of the broader economic conditions in Illinois.
Key Facts
- Illinois is a major manufacturing hub in the U.S.
- Durable goods manufacturing accounts for a significant portion of the state's GDP.
- This metric is a reliable indicator of the health of Illinois' industrial sector.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Illinois measures the total economic output of the durable goods manufacturing sector within the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to analyze trends in Illinois' industrial production and competitiveness, which is crucial for understanding the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Trends in the durable goods manufacturing GDP are closely watched by investors and policymakers as an indicator of the broader economic conditions in Illinois, which can inform decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other economic indicators published by the U.S. Bureau of Economic Analysis.
Related Trends
Real Gross Domestic Product: Real Estate (531) in Illinois
ILREALRGSP
Average Hourly Earnings of Production Employees: Manufacturing: Non-Durable Goods in Illinois
SMU17000003200000008A
All Employees: Government: Local Government Educational Services in Illinois
SMU17000009093161101
Exports of Goods for Illinois
EXPTOTIL
All Employees: Information in Illinois
ILINFO
Health Care and Social Assistance Wages and Salaries in Illinois
ILWHEA
Citation
U.S. Federal Reserve, Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Illinois (ILDURMANNQGSP), retrieved from FRED.