Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in North Carolina
NCAPPLEATHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
319.10
Year-over-Year Change
-54.61%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in North Carolina. It provides insights into the performance and contribution of this key manufacturing sector to the state's overall economic activity.
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: Apparel, Leather, and Allied Product Manufacturing (315-316) in North Carolina series tracks the total value of goods and services produced by this industry within the state. It is an important indicator for policymakers and analysts to understand the competitive position and growth dynamics of this manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
This trend is closely monitored by state economic development agencies and industry associations to inform policy decisions and strategic planning.
Key Facts
- North Carolina is a major hub for apparel and textile manufacturing in the U.S.
- The apparel, leather, and allied products industry accounts for over 5% of the state's total GDP.
- This sector has seen fluctuations in output over the past decade due to global competition and market shifts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of a key manufacturing sector in North Carolina, which is valuable for policymakers, industry stakeholders, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state economic development agencies and industry associations to inform policy decisions and strategic planning for the apparel and textile manufacturing sector in North Carolina.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in North Carolina (NCAPPLEATHMANNGSP), retrieved from FRED.