Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in South Dakota
SDDURMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,623.80
Year-over-Year Change
11.91%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in South Dakota measures the economic output of the durable goods manufacturing sector in the state. This statistic is important for understanding regional economic trends and the health of the manufacturing industry.
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 GDP: Durable Goods Manufacturing (321, 327-339) in South Dakota represents the total value added by businesses in the durable goods manufacturing industries, which includes industries like transportation equipment, machinery, and electrical equipment. This measure provides insight into the productivity and competitiveness of South Dakota's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is used by policymakers, businesses, and analysts to evaluate the strength of South Dakota's manufacturing base and its contribution to the state's overall economic performance.
Key Facts
- Durable goods manufacturing accounts for over 10% of South Dakota's GDP.
- The durable goods sector employs more than 30,000 workers in the state.
- South Dakota's manufacturing output has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in South Dakota measures the total economic output of the durable goods manufacturing sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the strength and productivity of South Dakota's manufacturing base, which is a key driver of the state's economy.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and analysts use this indicator to evaluate the competitiveness and growth potential of South Dakota's manufacturing sector and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The GDP: Durable Goods Manufacturing data for South Dakota is updated quarterly by the Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in South Dakota (SDDURMANNQGSP), retrieved from FRED.