Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in North Carolina
NCMANQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.31
Year-over-Year Change
1.14%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in North Carolina measures the inflation-adjusted output of the manufacturing sector in the state. It is a key indicator of economic activity and productivity.
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
This index tracks the real, price-adjusted value of goods produced by North Carolina's manufacturing industries, including durable and nondurable goods. It is used to analyze trends in the state's industrial production and economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures and appropriate price deflators.
Historical Context
The manufacturing index is closely watched by economists, policymakers, and businesses to gauge the health of North Carolina's economy.
Key Facts
- North Carolina is a major manufacturing hub, accounting for over 10% of the state's GDP.
- The state's manufacturing output grew by 3.2% in 2021 after declining in 2020 due to the COVID-19 pandemic.
- Durable goods production makes up around 60% of North Carolina's total manufacturing activity.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in North Carolina measures the inflation-adjusted output of the state's manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of North Carolina's industrial production and economic performance, providing insights into the health and growth of the state's manufacturing base.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures and appropriate price deflators.
Q: How is this trend used in economic policy?
A: The manufacturing index is closely watched by economists, policymakers, and businesses to gauge the health of North Carolina's economy and inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in North Carolina (NCMANQQGSP), retrieved from FRED.