Real Gross Domestic Product: Paper Manufacturing (322) in Rhode Island
RIPAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.30
Year-over-Year Change
-8.98%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the paper manufacturing industry (NAICS 322) in the state of Rhode Island. It is an important indicator of the overall health and productivity of this key manufacturing sector in the state.
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: Paper Manufacturing (322) in Rhode Island series tracks the inflation-adjusted economic output of the paper manufacturing industry in Rhode Island. It provides insight into the performance and competitiveness of this critical industrial subsector within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and input-output models.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to gauge the competitive position and growth prospects of Rhode Island's paper manufacturing sector.
Key Facts
- Rhode Island's paper manufacturing sector accounts for over 4% of the state's total GDP.
- The industry employs more than 2,500 workers in the state.
- Paper manufacturing contributed $560 million to Rhode Island's economy in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the paper manufacturing industry (NAICS 322) in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of a key manufacturing subsector within Rhode Island's economy, which is closely monitored by policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and input-output models.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and industry analysts to gauge the competitive position and growth prospects of Rhode Island's paper manufacturing sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: There may be several months of delay in the release of this data, as it is collected and calculated by the federal government. Additionally, the data may be subject to revisions over time as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Paper Manufacturing (322) in Rhode Island (RIPAPMANRGSP), retrieved from FRED.