Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Washington
WAFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.35
Year-over-Year Change
-27.86%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Washington measures the volume of economic output in this industry and region. It is a key indicator for policymakers and analysts tracking Washington's manufacturing sector performance.
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 quantity of goods produced by the fabricated metal product manufacturing industry in Washington state. It is used to assess productivity, competitiveness, and overall economic health for this important part of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level production and price information.
Historical Context
Trends in this index are closely watched by economists, investors, and policymakers to understand Washington's industrial output and competitiveness.
Key Facts
- Washington is a major hub for fabricated metal manufacturing.
- This industry accounts for over 5% of the state's total economic output.
- The index is adjusted for inflation to provide a real measure of production volume.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods produced by the fabricated metal product manufacturing industry in Washington state.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index are closely watched by economists, investors, and policymakers to understand Washington's industrial output and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level production and price information.
Q: How is this trend used in economic policy?
A: This index is used to assess productivity, competitiveness, and overall economic health for this important part of Washington's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Washington (WAFABRMETQGSP), retrieved from FRED.