Average Weekly Earnings of All Employees: Construction in Rhode Island
Annual
SMU44000002000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,664.68
Year-over-Year Change
56.94%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual trend measures the total annual output of the U.S. manufacturing sector. This key economic indicator provides insights into the overall health and productivity of the nation'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
The Annual trend tracks the total annual production volume of all manufactured goods in the United States. It is a widely followed metric used by economists, policymakers, and industry analysts to assess the performance and trajectory of the U.S. manufacturing sector.
Methodology
This data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored for its implications on employment, trade, and economic growth.
Key Facts
- The U.S. manufacturing sector accounts for approximately 11% of GDP.
- Annual manufacturing output has grown by over 20% since the early 2000s.
- The COVID-19 pandemic caused a sharp decline in annual manufacturing output in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total annual production volume of all manufactured goods in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend is a key indicator of the overall health and performance of the U.S. manufacturing sector, which has important implications for employment, trade, and economic growth.
Q: How is this data collected or calculated?
A: This data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is closely monitored by policymakers, economists, and industry analysts to assess the state of the U.S. manufacturing sector and inform economic policies and decisions.
Q: Are there update delays or limitations?
A: The Annual trend data is typically published with a lag of several months, reflecting the time required to collect and compile the survey information.
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Citation
U.S. Federal Reserve, Annual (SMU44000002000000011A), retrieved from FRED.