Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Minnesota
Annual, Not Seasonally Adjusted
MNNDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,729.60
Year-over-Year Change
28.74%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the total value of shipments by non-durable manufacturing industries in the United States. This metric provides insight into the overall health and output of the non-durable goods 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 Annual, Not Seasonally Adjusted series tracks the total dollar value of goods shipped by non-durable manufacturing industries, which include sectors like food, beverage, textile, and chemical production. This data is used by economists to analyze trends in industrial production and manufacturing activity.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Census Bureau.
Historical Context
Policymakers and analysts utilize this metric to assess the performance and outlook of the broader manufacturing industry.
Key Facts
- The non-durable manufacturing sector accounts for over 35% of total U.S. manufacturing output.
- Shipment values reached a record high of $3.1 trillion in 2021.
- The food and beverage industry makes up the largest share of non-durable manufacturing.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the total value of shipments by non-durable manufacturing industries in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall health and output of the non-durable goods manufacturing sector, which is an important component of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts utilize this metric to assess the performance and outlook of the broader manufacturing industry, which is a key driver of economic growth.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MNNDURMANNGSP), retrieved from FRED.