Gross Domestic Product: Primary Metal Manufacturing (331) in North Carolina
NCPRIMETMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,762.20
Year-over-Year Change
55.71%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the primary metal manufacturing industry (NAICS 331) in the state of North Carolina. It provides insight into the economic activity and production levels of this key manufacturing 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
The Gross Domestic Product: Primary Metal Manufacturing (331) in North Carolina series tracks the total value of goods and services produced by the primary metal manufacturing industry in the state. This metric is used by economists and policymakers to assess the health and competitiveness of North Carolina's industrial base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is closely monitored by state and federal officials to inform economic development strategies and policies affecting the manufacturing sector.
Key Facts
- North Carolina is a major hub for primary metal manufacturing.
- This industry accounts for over 5% of the state's total GDP.
- Trends in this sector reflect the broader health of North Carolina's manufacturing base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the primary metal manufacturing industry (NAICS 331) in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic activity and production levels of a key manufacturing sector in North Carolina, which is useful for assessing the state's industrial competitiveness and informing economic development strategies.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal officials to inform economic development strategies and policies affecting the manufacturing sector in North Carolina.
Q: Are there update delays or limitations?
A: The data is subject to the normal release schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Primary Metal Manufacturing (331) in North Carolina (NCPRIMETMANNGSP), retrieved from FRED.