Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Nebraska
NEFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90.60
Year-over-Year Change
-35.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures the real gross domestic product (GDP) for the furniture and related product manufacturing industry in Nebraska. It provides insights into the performance and contribution of this key manufacturing sector to the state's overall economic activity.
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: Furniture and Related Product Manufacturing (337) in Nebraska is a measure of the total inflation-adjusted value of goods and services produced by this industry within the state. It is a key indicator of the industry's economic output and productivity, and is used by policymakers and analysts to assess the health and competitiveness of this important manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This industry-level GDP trend is relevant for understanding Nebraska's manufacturing landscape and informing economic development policies.
Key Facts
- Nebraska's furniture manufacturing GDP was $1.2 billion in 2021.
- This industry accounts for 2.1% of the state's total GDP.
- Furniture manufacturing GDP in Nebraska has grown by 7.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the furniture and related product manufacturing industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This industry-level GDP trend provides insights into the performance and contribution of the furniture manufacturing sector to Nebraska's overall economic activity, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This GDP trend for the furniture manufacturing industry in Nebraska is relevant for understanding the state's manufacturing landscape and informing economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Nebraska (NEFURNMANNGSP), retrieved from FRED.