Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Utah
UTTEXTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.10
Year-over-Year Change
57.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of textile mills and textile product mills in the state of Utah. It provides insight into the performance and economic contribution of this important 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
The Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Utah trend tracks the inflation-adjusted value added by textile-related industries to the state's overall economic output. It serves as a key indicator of productivity and competitiveness within this industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This trend is used by policymakers, industry analysts, and economists to assess the health and competitiveness of Utah's textile manufacturing sector.
Key Facts
- Utah's textile industry contributes over $1 billion annually to the state's GDP.
- Textile mills and textile product mills account for over 10,000 jobs in Utah.
- The sector has experienced steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the textile mills and textile product mills industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and economic contribution of Utah's textile manufacturing sector, which is an important part of the state's overall industrial base.
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 principles.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economists use this trend to assess the health and competitiveness of Utah's textile manufacturing sector, informing decisions around economic development, trade, and workforce policies.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Bureau of Economic Analysis, with typical update delays of several months.
Related Trends
Regional Price Parities: Services: Housing: Metropolitan Portion for Utah
UTMPRPPSERVERENT
All Employees: Food Services and Drinking Places in Utah
SMU49000007072200001A
Gross Domestic Product: Private Goods-Producing Industries in Utah
UTPRIGOODPRONGSP
All Employees: Manufacturing: Non-Durable Goods in Utah
SMS49000003200000001
Chain-Type Quantity Index for Real GDP: Management of Companies and Enterprises (55) in Utah
UTMNGCOENTPRQQGSP
Housing Inventory: Price Reduced Count Month-Over-Month in Utah
PRIREDCOUMMUT
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Utah (UTTEXTRGSP), retrieved from FRED.