Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Pennsylvania
PADURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.51
Year-over-Year Change
-0.08%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Pennsylvania measures the real output of the state's durable goods manufacturing sector, a key component of the 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
This index tracks the production volume of Pennsylvania's durable goods manufacturers, which include industries like machinery, electronics, and transportation equipment. It provides a valuable gauge of economic activity and performance in a critical industrial segment.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing establishments.
Historical Context
Policymakers and analysts use this index to monitor the health and trends of Pennsylvania's manufacturing base and its contribution to the state's overall economic growth.
Key Facts
- Pennsylvania is a leading manufacturing state, contributing over $92 billion to the state's GDP.
- Durable goods manufacturing accounts for nearly one-third of Pennsylvania's total manufacturing output.
- The index has shown steady growth in recent years, reflecting the resiliency of the state's manufacturing sector.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Pennsylvania measures the real (inflation-adjusted) output of the state's durable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This index provides a valuable gauge of economic activity and performance in a critical industrial segment of Pennsylvania's economy, helping policymakers and analysts monitor the health and trends of the state's manufacturing base.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing establishments in Pennsylvania.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the health and trends of Pennsylvania's manufacturing sector and its contribution to the state's overall economic growth, informing policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The index is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Pennsylvania (PADURMANQGSP), retrieved from FRED.