Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Rhode Island
RINDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,554.20
Year-over-Year Change
-2.63%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Rhode Island measures the inflation-adjusted output of the nondurable goods manufacturing sector in the state. This metric is a key indicator of economic activity and productivity in a major component of Rhode Island's industrial base.
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 represents the real, or inflation-adjusted, value of goods produced by nondurable manufacturing industries in Rhode Island, including food, beverage, textile, apparel, paper, printing, petroleum, chemical, and plastics products. It is a crucial statistic for evaluating the health and competitiveness of this vital manufacturing segment within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and production data.
Historical Context
Policymakers and analysts use this metric to assess the performance and competitive position of Rhode Island's nondurable goods manufacturing sector.
Key Facts
- Rhode Island's nondurable manufacturing sector accounts for over 10% of the state's GDP.
- Real nondurable goods output in Rhode Island has increased by 15% since 2010.
- The chemical products industry is the largest component of Rhode Island's nondurable manufacturing.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted output of nondurable goods manufacturing industries in the state of Rhode Island, including food, textiles, chemicals, and other products.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for evaluating the health and competitiveness of a key sector of Rhode Island's economy, providing insights into manufacturing productivity and economic conditions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this metric using surveys and production data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the performance and competitive position of Rhode Island's nondurable goods manufacturing industries.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the most recent data for this series.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Rhode Island (RINDURMANRQGSP), retrieved from FRED.