Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Indiana
INFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,206.70
Year-over-Year Change
76.42%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Indiana. It provides insight into the performance and economic contribution of this key manufacturing sector.
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: Furniture and Related Product Manufacturing (337) in Indiana metric tracks the total value of goods and services produced by this industry within the state. It is an important indicator of economic activity and can inform policymakers and industry analysts about market trends and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This GDP metric is widely used by economists, policymakers, and industry stakeholders to monitor the health and growth of the furniture manufacturing sector in Indiana.
Key Facts
- Indiana is a major hub for furniture manufacturing in the U.S.
- This industry accounts for over 10,000 jobs in the state.
- The GDP of Indiana's furniture sector has grown by 15% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and economic contribution of a key manufacturing sector in Indiana, which can inform business, policy, and investment decisions.
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 GDP metric is widely used by economists, policymakers, and industry stakeholders to monitor the health and growth of the furniture manufacturing sector in Indiana and inform relevant policies and initiatives.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Indiana (INFURNMANNGSP), retrieved from FRED.