Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Ohio
Annual, Not Seasonally Adjusted
OHDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70,654.90
Year-over-Year Change
35.50%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the total value of manufacturing shipments in the United States. This metric is a key indicator of the health and output of the U.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
The 'Annual, Not Seasonally Adjusted' series represents the total dollar value of manufactured goods shipped by U.S. companies each year. It is a widely tracked measure of manufacturing activity and production capacity utilized in the economy.
Methodology
The data is collected through monthly surveys of manufacturing establishments by the U.S. Census Bureau.
Historical Context
This manufacturing shipments trend is closely monitored by economists, policymakers, and industry analysts to gauge overall economic conditions and inform decisions.
Key Facts
- The U.S. manufacturing sector accounts for over 11% of GDP.
- Manufacturing shipments have increased by over 50% since the early 2000s.
- Durable goods make up about 60% of total manufacturing shipments.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total value of manufacturing shipments in the United States, providing a gauge of overall manufacturing activity and production.
Q: Why is this trend relevant for users or analysts?
A: This manufacturing shipments metric is a key indicator used by economists, policymakers, and industry analysts to assess the health and output of the U.S. manufacturing sector, which is a critical component of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of manufacturing establishments conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Manufacturing shipments data is closely monitored by policymakers and central banks to inform decisions on economic policy, industrial regulations, and monetary policy.
Q: Are there update delays or limitations?
A: The manufacturing shipments data is released on a monthly basis with a short lag, providing timely insights into the state of the U.S. manufacturing sector.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (OHDURMANNGSP), retrieved from FRED.