Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Nebraska
NEFURNMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.55
Year-over-Year Change
-59.11%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Nebraska measures the volume of economic output for this industry in the state. This metric is important for economists and policymakers to assess the performance and competitiveness of Nebraska's 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
This index tracks the quantity of real GDP, or inflation-adjusted economic output, for the furniture manufacturing industry in Nebraska. It provides a standardized measure of production that can be compared over time and across different regions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price and quantity information.
Historical Context
Trends in this index are closely monitored by industry groups, economic development agencies, and policymakers to evaluate the state's manufacturing competitiveness.
Key Facts
- The index uses 2012 as the base year.
- Nebraska's furniture manufacturing industry accounts for around 2% of the state's total GDP.
- The index reached its highest level in 2015.
FAQs
Q: What does this economic trend measure?
A: This index measures the quantity of real GDP, or inflation-adjusted economic output, for the furniture manufacturing industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide insight into the performance and competitiveness of Nebraska's furniture manufacturing sector, which is an important part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price and quantity information.
Q: How is this trend used in economic policy?
A: Policymakers, industry groups, and economic development agencies use this index to monitor the state's manufacturing competitiveness and inform decisions related to investment, regulation, and economic development initiatives.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Nebraska (NEFURNMANQGSP), retrieved from FRED.