Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Wisconsin
WIELCEQAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,617.90
Year-over-Year Change
-20.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the electrical equipment, appliance, and component manufacturing industry in Wisconsin. It provides insights into the performance and productivity of this critical manufacturing sector within the state'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
The Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Wisconsin series tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is an important indicator for analyzing the health and competitiveness of Wisconsin's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely used by policymakers, industry analysts, and economic development organizations to assess the competitive position and growth prospects of Wisconsin's electrical equipment manufacturing sector.
Key Facts
- Wisconsin is a major hub for electrical equipment and appliance manufacturing.
- This industry accounts for over 10% of the state's total manufacturing GDP.
- Real GDP in this sector has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the electrical equipment, appliance, and component manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of a critical manufacturing sector within Wisconsin's economy, which is vital information for policymakers, industry stakeholders, and economic development analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, industry groups, and economic development organizations to assess the health and growth prospects of Wisconsin's electrical equipment manufacturing sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a short delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Wisconsin (WIELCEQAPMANRGSP), retrieved from FRED.