Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in North Carolina
NCPLASRUBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.32
Year-over-Year Change
-13.65%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in North Carolina measures the real output of the plastics and rubber manufacturing industry in the state. This metric is important for understanding the health and competitiveness of this key industrial sector.
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 gross domestic product (GDP) for the plastics and rubber products manufacturing industry in North Carolina. It provides a quantitative measure of the industry's production volume, which is useful for economic analysis and policymaking related to this significant component of the state's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP by industry estimates.
Historical Context
This index helps inform decisions by policymakers, industry leaders, and investors regarding North Carolina's plastics and rubber manufacturing sector.
Key Facts
- North Carolina is a major hub for plastics and rubber manufacturing.
- This industry accounts for over 5% of the state's total manufacturing GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or production volume 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 metric provides important insights into the performance and competitiveness of a critical manufacturing sector in the North Carolina economy.
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 its regional GDP by industry estimates.
Q: How is this trend used in economic policy?
A: This index helps inform decisions by policymakers, industry leaders, and investors regarding North Carolina's plastics and rubber manufacturing sector.
Q: Are there update delays or limitations?
A: The index data is published on a regular schedule by the Bureau of Economic Analysis, with a typical 1-2 quarter delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in North Carolina (NCPLASRUBMANQGSP), retrieved from FRED.