Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Utah
UTPLASRUBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.34
Year-over-Year Change
54.25%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Utah measures the real output of the plastics and rubber manufacturing industry in the state. This metric is important for economists and policymakers to assess the health and growth of this key manufacturing sector.
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 index tracks the real, inflation-adjusted production of plastics and rubber products in Utah over time. It provides a gauge of the industry's economic performance and can signal broader trends in manufacturing, trade, and investment within the state.
Methodology
The data is calculated by the U.S. Federal Reserve using production and price information from manufacturing surveys.
Historical Context
Economists and market analysts use this index to monitor the state's industrial activity and competitiveness.
Key Facts
- Utah is a top U.S. state for plastics and rubber production.
- This index uses 2012 as the base year for real GDP calculations.
- Manufacturing accounts for about 10% of Utah's total economic output.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted production output of the plastics and rubber products manufacturing industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key manufacturing sector in Utah's economy.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this index using production and price data from manufacturing industry surveys.
Q: How is this trend used in economic policy?
A: Economists and market analysts use this index to monitor industrial activity and competitiveness within the state of Utah.
Q: Are there update delays or limitations?
A: This data is published with a lag and may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Utah (UTPLASRUBMANQGSP), retrieved from FRED.