Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in North Carolina
NCPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,786.50
Year-over-Year Change
40.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in North Carolina. It provides valuable insights into the performance and growth 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: Plastics and Rubber Products Manufacturing (326) in North Carolina series tracks the total economic output of this industry, which encompasses the production of a wide range of plastic and rubber goods. This data point is used by economists and policymakers to assess the health and competitiveness of North Carolina's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by industry estimates.
Historical Context
This trend is closely monitored by state and local governments, as well as industry associations, to inform economic development strategies and investment decisions.
Key Facts
- North Carolina is a major hub for plastics and rubber manufacturing.
- This industry accounts for over 5% of the state's total GDP.
- GDP in this sector has grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the performance and competitiveness of a key manufacturing sector within North Carolina's economy, which is important for economic development, investment, and policy decisions.
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 comprehensive GDP by industry estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and local governments, as well as industry associations, to inform economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in North Carolina (NCPLASRUBMANNGSP), retrieved from FRED.