Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Pennsylvania
PAFABRMETNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,364.90
Year-over-Year Change
27.07%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Pennsylvania measures the economic output of this manufacturing sector within the state. It is a key indicator of industrial activity and can inform policy decisions and investment strategies.
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 series tracks the real gross domestic product (GDP) of the fabricated metal product manufacturing industry in Pennsylvania. It provides insight into the performance and contribution of this important manufacturing segment to the state's overall economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and market analysts closely monitor this metric to assess the health and competitiveness of Pennsylvania's manufacturing base.
Key Facts
- Pennsylvania is a major center for fabricated metal manufacturing.
- This sector accounts for over 5% of the state's total GDP.
- GDP in fabricated metal manufacturing has grown by 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the fabricated metal product manufacturing industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of a key manufacturing sector to Pennsylvania's overall economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this metric to assess the health and competitiveness of Pennsylvania's manufacturing base and inform investment and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2-3 months, which may limit its real-time usefulness for some applications.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Pennsylvania (PAFABRMETNGSP), retrieved from FRED.