Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Washington
WADURMANQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.23
Year-over-Year Change
3.18%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Washington measures the output volume of the durable goods manufacturing sector in the state. This metric is crucial for analyzing the health and productivity of Washington's economy.
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 output, or production volume, of durable goods manufacturers in Washington, including industries like machinery, transportation equipment, and furniture. It is a key indicator of the state's industrial activity and an important input for economic forecasting and policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and analysts use this index to gauge the performance of Washington's manufacturing sector and its contribution to the state's overall economic growth.
Key Facts
- Washington is a major hub for durable goods manufacturing.
- The index has shown steady growth in recent years.
- Durable goods account for a significant portion of the state's GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output volume of durable goods manufacturers in the state of Washington, including industries like machinery, transportation equipment, and furniture.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for analyzing the health and productivity of Washington's manufacturing sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to gauge the performance of Washington's manufacturing sector and its contribution to the state's overall economic growth, which informs policy decisions.
Q: Are there update delays or limitations?
A: The index is updated regularly by the U.S. Federal Reserve, but there may be some delays in the data due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Washington (WADURMANQQGSP), retrieved from FRED.