Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina
NCNDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62,023.80
Year-over-Year Change
20.78%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina measures the economic output of the nondurable manufacturing sector in the state, which is a key driver of 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
This series represents the total value added by nondurable goods manufacturers in North Carolina, including industries such as food, beverage, textile, apparel, paper, and chemical production. It provides an important indicator of the health and growth of the state's manufacturing economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and economists use this metric to assess the performance and competitiveness of North Carolina's manufacturing sector.
Key Facts
- North Carolina is a leading state for nondurable goods manufacturing.
- Nondurable goods account for over 20% of the state's total economic output.
- The industry employs more than 300,000 workers in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or value added by nondurable goods manufacturing industries in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: The nondurable manufacturing sector is a critical component of North Carolina's economy, and this data provides an important indicator of its performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the health and growth of North Carolina's manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a lag of several months between the reference period and the release date.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in North Carolina (NCNDURMANNGSP), retrieved from FRED.