Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Nebraska
NEFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,515.00
Year-over-Year Change
140.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) generated by the food, beverage, and tobacco product manufacturing industries in Nebraska. It provides insight into the performance and contribution of this important sector to 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: Food and Beverage and Tobacco Product Manufacturing (311-312) in Nebraska series tracks the total economic output of these manufacturing industries within the state. It is a key indicator of the health and productivity of this segment of Nebraska's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and analysts use this trend to evaluate the economic significance of food, beverage, and tobacco manufacturing in Nebraska and inform relevant policy decisions.
Key Facts
- Nebraska's food, beverage, and tobacco manufacturing sector accounts for over 10% of the state's total GDP.
- This industry directly employs more than 25,000 workers in Nebraska.
- The state's GDP from this sector has grown by 3.5% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the food, beverage, and tobacco product manufacturing industries located in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the economic significance and performance of an important manufacturing sector in Nebraska, which can inform policy decisions and business 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 industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the economic contribution of food, beverage, and tobacco manufacturing in Nebraska and inform relevant policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Nebraska (NEFOODBEVTOBMANNGSP), retrieved from FRED.