Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in South Carolina
SCAPPLEATHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
252.30
Year-over-Year Change
238.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in South Carolina. It provides insights into the performance and contribution of this key manufacturing sector to the state's economy.
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 SCAPPLEATHMANNGSP series represents the real GDP, adjusted for inflation, of the apparel, leather, and allied product manufacturing industry (NAICS codes 315-316) in the state of South Carolina. This metric is used by economists and policymakers to analyze the growth and competitiveness of this important manufacturing segment within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methods.
Historical Context
This GDP trend is relevant for understanding the state of South Carolina's manufacturing sector and its ability to compete in global markets.
Key Facts
- South Carolina is a major hub for apparel and leather manufacturing in the U.S.
- This industry accounts for over 5% of the state's total manufacturing GDP.
- The sector employs more than 20,000 workers in South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and competitiveness of a key manufacturing sector in South Carolina's economy, which is important for understanding the state's overall economic conditions and growth.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this GDP trend to analyze the state of South Carolina's manufacturing sector and its ability to compete in global markets, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a reporting period and the release of the GDP data for that period.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in South Carolina (SCAPPLEATHMANNGSP), retrieved from FRED.