Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Wisconsin
WIFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.14
Year-over-Year Change
32.32%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Wisconsin measures the inflation-adjusted output of this industry sector in the state. It is a key indicator of economic activity and productivity in this important manufacturing segment.
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 value of goods produced by food, beverage, and tobacco manufacturers in Wisconsin. It provides insight into the overall health and growth of this crucial industry, which is a major employer and economic driver in the state.
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 closely monitor this index to assess the strength of Wisconsin's manufacturing base and make informed decisions.
Key Facts
- This index has a base year of 2012.
- Wisconsin is a top producer of dairy, meat, and other food products.
- The state's food and beverage industry employs over 70,000 workers.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Wisconsin measures the inflation-adjusted output of this key industry sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the health and productivity of Wisconsin's food, beverage, and tobacco manufacturing industries, which are critical components 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 monitor this index to assess the strength of Wisconsin's manufacturing base and make informed decisions about economic development, trade, and other policies.
Q: Are there update delays or limitations?
A: There may be lags in data availability due to the time required for collection and processing by the statistical agencies.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Wisconsin (WIFOODBEVTOBMANQGSP), retrieved from FRED.