Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Wisconsin
WIMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.95
Year-over-Year Change
-9.54%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Wisconsin measures the real output of the machinery manufacturing industry in the state. This metric is important for economists and policymakers to understand the productivity and competitiveness of a key sector in Wisconsin'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 inflation-adjusted, volume-based production of machinery manufacturing companies located in Wisconsin. It provides insights into the health and performance of this critical industry, which has significant implications for the state's overall economic growth and employment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for changes in the relative prices of goods over time.
Historical Context
Trends in this index are used by policymakers and industry analysts to inform decisions around economic development, taxation, and workforce planning.
Key Facts
- Wisconsin is a major hub for machinery manufacturing in the U.S.
- The index is calculated using a base year of 2012 = 100.
- Trends in this index can signal shifts in the competitiveness of Wisconsin's manufacturing sector.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the machinery manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the productivity and competitiveness of a key manufacturing sector in Wisconsin's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to inform decisions around economic development, taxation, and workforce planning in Wisconsin.
Q: Are there update delays or limitations?
A: The index is published quarterly, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Wisconsin (WIMACHMANQGSP), retrieved from FRED.