Gross Domestic Product: Manufacturing (31-33) in Illinois
ILMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137,471.70
Year-over-Year Change
6.64%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Manufacturing (31-33) in Illinois trend measures the total economic output of the manufacturing sector in the state of Illinois. This metric is important for understanding the health and performance of Illinois' industrial 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
This trend represents the total value added by the manufacturing industries (NAICS codes 31-33) within Illinois' overall gross domestic product. It provides insight into the productivity and competitiveness of the state's manufacturing base, which is a critical component of the local and national economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
Policymakers and business leaders closely monitor this trend to gauge the competitive position of Illinois manufacturing and guide economic development strategies.
Key Facts
- Illinois is the 5th largest manufacturing state by GDP.
- Manufacturing accounts for over 12% of Illinois' total economic output.
- The sector employs nearly 600,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or value added by the manufacturing industries (NAICS 31-33) within Illinois' overall gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and competitiveness of Illinois' industrial base, which is a critical driver of the state's 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 accounts methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders monitor this trend to gauge the competitive position of Illinois manufacturing and guide economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Illinois (ILMANNQGSP), retrieved from FRED.