Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Mississippi
MSFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
944.40
Year-over-Year Change
19.05%
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 Mississippi. It provides insights into the performance and importance of this key manufacturing sector within the state's economy.
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 Mississippi metric tracks the total value of goods and services produced by this industry in the state. It is an important indicator of the industry's economic contribution and can be used to analyze its growth, competitiveness, and overall significance within Mississippi's manufacturing landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This GDP metric is widely used by policymakers, analysts, and businesses to understand the dynamics of Mississippi's manufacturing sector and its impact on the state's economic performance.
Key Facts
- Mississippi's furniture manufacturing industry accounts for a significant portion of the state's GDP.
- The trend has shown moderate growth in recent years, reflecting the industry's resilience.
- Furniture manufacturing is a key employer in many Mississippi communities.
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 Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and importance of the furniture manufacturing industry within Mississippi's economy, which is a key sector for the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: This GDP metric is widely used by policymakers, analysts, and businesses to understand the dynamics of Mississippi's manufacturing sector and its impact on the state's economic performance.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to periodic revisions and updates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Mississippi (MSFURNMANNGSP), retrieved from FRED.