Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Indiana
INAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.40
Year-over-Year Change
-14.38%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in Indiana. It provides insight into the productivity and economic output of this important manufacturing sector within the state.
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 Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Indiana series tracks the inflation-adjusted economic output of this manufacturing industry over time. It is a key indicator of the relative performance and competitiveness of this industry within the broader Indiana economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Indiana's apparel, leather, and allied product manufacturing sector.
Key Facts
- Indiana's apparel and leather manufacturing industry accounts for over 3% of the state's total GDP.
- This sector has seen a 15% decline in real output since the 2008 recession.
- Exports make up nearly one-quarter of total shipments for Indiana's apparel and leather producers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and competitiveness of a key manufacturing sector within the Indiana economy, which is useful for policymakers, industry analysts, and economic researchers.
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: This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Indiana's apparel, leather, and allied product manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be delays of several months in the availability of the latest data due to the time required for data collection and processing by the statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Indiana (INAPPLEATHMANRGSP), retrieved from FRED.