Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Pennsylvania
PANDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47,758.60
Year-over-Year Change
1.00%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Pennsylvania. It is an important indicator of the state's industrial activity and economic performance.
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 Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Pennsylvania series tracks the inflation-adjusted output of the nondurable goods manufacturing industry, which includes food, beverage, textile, apparel, paper, printing, petroleum, and chemical products. This data is used to assess the health and competitiveness of Pennsylvania's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts monitor this trend to understand Pennsylvania's economic conditions and competitiveness.
Key Facts
- Pennsylvania is a major manufacturing hub in the U.S.
- Nondurable goods account for over 25% of Pennsylvania's GDP.
- This sector employs over 300,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of Pennsylvania's industrial activity and economic performance, providing insights into the health and competitiveness of the state's manufacturing base.
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 analysts monitor this trend to understand Pennsylvania's economic conditions and competitiveness, which informs policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Pennsylvania (PANDURMANRQGSP), retrieved from FRED.