Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in South Carolina
SCPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,726.80
Year-over-Year Change
-3.62%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product (GDP) for Plastics and Rubber Products Manufacturing (326) in South Carolina is an important economic indicator that measures the inflation-adjusted value of goods and services produced in this industry within 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
This series tracks the real GDP output of the plastics and rubber products manufacturing sector in South Carolina over time, providing insights into the economic health and productivity of this key industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
Policymakers and analysts use this trend to evaluate the strength and competitiveness of South Carolina's manufacturing sector.
Key Facts
- South Carolina is a major producer of plastics and rubber products.
- This industry accounts for over $10 billion in annual state GDP.
- Plastics and rubber manufacturing employs more than 40,000 workers in South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) for the plastics and rubber products manufacturing industry in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of a key manufacturing sector within the state's economy, which is useful for policymakers, economists, and business 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 standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the strength and competitiveness of South Carolina's manufacturing sector, informing decisions around economic development, taxation, and regulations.
Q: Are there update delays or limitations?
A: There may be several months of delay in the release of this data due to the comprehensive GDP accounting process.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in South Carolina (SCPLASRUBMANRGSP), retrieved from FRED.