Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in North Carolina
NCPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,112.40
Year-over-Year Change
-13.65%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in North Carolina. It provides insight into the productivity and output 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 Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in North Carolina series tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is an important indicator of the sector's competitiveness, investment, and contribution to North Carolina's economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely monitored by policymakers, industry analysts, and economic development organizations to assess the health and competitiveness of North Carolina's manufacturing base.
Key Facts
- North Carolina is a major hub for plastics and rubber manufacturing.
- This industry accounts for over 4% of the state's total economic output.
- Real GDP in this sector has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) 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 metric provides insight into the productivity, competitiveness, and economic contribution of a key manufacturing sector within North Carolina's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers, industry analysts, and economic development organizations to assess the health and competitiveness of North Carolina's manufacturing base.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in North Carolina (NCPLASRUBMANRGSP), retrieved from FRED.