Real Gross Domestic Product: Primary Metal Manufacturing (331) in Indiana
INPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,027.20
Year-over-Year Change
195.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in Indiana. It provides insights into the production and economic activity of this crucial industrial 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: Primary Metal Manufacturing (331) in Indiana series tracks the inflation-adjusted value added by the primary metal manufacturing industry to the state's overall economic output. This metric is widely used by economists and policymakers to analyze industrial productivity and the health of Indiana's manufacturing base.
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 relevant for understanding Indiana's industrial composition and competitiveness, as well as informing economic policies and business investment decisions.
Key Facts
- Indiana is a major center of primary metal production in the U.S.
- This industry accounts for over 10% of the state's total GDP.
- Real primary metal GDP in Indiana has grown by 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the primary metal manufacturing industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic significance of Indiana's primary metal manufacturing sector, which is a crucial component of the state's industrial base and overall 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 principles.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and competitiveness of Indiana's manufacturing industries, informing economic development strategies and business investment decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately three months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in Indiana (INPRIMETMANRGSP), retrieved from FRED.