Gross Domestic Product: Machinery Manufacturing (333) in Indiana
INMACHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,237.90
Year-over-Year Change
70.61%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Machinery Manufacturing (333) in Indiana measure tracks the economic output of the machinery manufacturing industry in the state. This data is crucial for understanding the health and competitiveness of Indiana's industrial 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 Machinery Manufacturing (333) industry classification covers the production of a wide range of machinery, such as engines, turbines, HVAC equipment, and other industrial machinery. This GDP series provides a high-level view of the economic contribution and performance of this vital manufacturing segment in Indiana.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Policymakers and analysts monitor this trend to assess the broader economic conditions and competitive positioning of Indiana's manufacturing base.
Key Facts
- Indiana is a major center for machinery manufacturing in the U.S.
- The sector accounts for over 10% of Indiana's total economic output.
- Machinery production has been a driver of growth in Indiana in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This GDP series provides important insights into the performance and competitiveness of a key manufacturing segment in Indiana, which is vital for understanding the broader state 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 accounting frameworks and industry classifications.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this machinery manufacturing GDP trend to assess the health and competitiveness of Indiana's industrial base, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: There is typically a lag of several months between the end of a quarter and the release of the GDP data. The series may also be subject to periodic revisions by the statistical agencies.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Machinery Manufacturing (333) in Indiana (INMACHMANNGSP), retrieved from FRED.