Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Rhode Island
RIFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71.67
Year-over-Year Change
-37.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Rhode Island measures the real output of this industry in the state. It is an important indicator of manufacturing activity and economic growth.
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 volume of production from fabricated metal product manufacturers in Rhode Island, adjusting for price changes to provide a real, inflation-adjusted measure of output. It is used by economists and policymakers to analyze trends in the state's manufacturing sector and broader economic conditions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric helps inform decisions around economic and industrial policies in Rhode Island.
Key Facts
- Rhode Island's fabricated metal manufacturing accounts for over $1 billion in annual GDP.
- This index has a base year of 2012=100.
- The series began in 1997 and is updated quarterly.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted output of the fabricated metal product manufacturing industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the health and performance of an important manufacturing sector in the state, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: This metric helps inform decisions around economic and industrial policies in Rhode Island, as it reflects the state of a key manufacturing industry.
Q: Are there update delays or limitations?
A: The series is updated quarterly, with a typical 1-2 month delay from the end of the reference period.
Related Trends
All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Rhode Island
SMS44000006054000001
Arts, Entertainment and Recreation Earnings in Rhode Island
RIEART
Real Gross Domestic Product: Information (51) in Rhode Island
RIINFORQGSP
Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Rhode Island
RITRANSUTILRGSP
Number of Identified Exporters to Israel from Rhode Island
RIISRA475SCEN
Number of Identified Exporters to Spain from Rhode Island
RIESPA475SCEN
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Rhode Island (RIFABRMETQGSP), retrieved from FRED.