Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Wisconsin
WICHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
144.49
Year-over-Year Change
5.14%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Wisconsin measures the inflation-adjusted output of the chemical manufacturing industry in the state. It serves as an important indicator of economic activity and production trends in this key industrial 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 provides a measure of the real, volume-based output of Wisconsin's chemical manufacturing industry over time. It is useful for analyzing productivity, competitiveness, and structural changes in this crucial component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes.
Historical Context
Policymakers and analysts monitor this trend to assess the health and competitiveness of Wisconsin's chemical manufacturing industry and its contribution to the state's overall economic performance.
Key Facts
- Wisconsin is a top-10 U.S. state for chemical manufacturing.
- The chemical industry accounts for over $20 billion in annual economic output in Wisconsin.
- Chemical manufacturing represents about 10% of Wisconsin's total GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the chemical manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: It provides an important indicator of productivity, competitiveness, and structural changes in a key component of Wisconsin's industrial economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the health and competitiveness of Wisconsin's chemical manufacturing industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Wisconsin (WICHEMMANQGSP), retrieved from FRED.