Real Gross Domestic Product: Machinery Manufacturing (333) in Wisconsin
WIMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,412.80
Year-over-Year Change
-9.54%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Wisconsin. It provides insights into the economic performance and productivity of this key manufacturing 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
The real GDP of the machinery manufacturing industry in Wisconsin represents the total value of goods and services produced by this sector, adjusted for inflation. It is a critical indicator of the industry's contribution to the state's overall economic activity and can help policymakers and analysts assess the sector's competitiveness, growth, and broader economic implications.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including industry surveys and production data.
Historical Context
This trend is used by economists, policymakers, and market analysts to monitor the health and performance of Wisconsin's manufacturing sector and its impact on the state's economy.
Key Facts
- Wisconsin is a major hub for machinery manufacturing in the U.S.
- The machinery manufacturing industry accounts for a significant portion of the state's economic output.
- This trend can signal broader trends in the state's manufacturing and industrial sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Wisconsin, providing insights into the economic performance and productivity of this key manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and market analysts as it provides insights into the health and competitiveness of Wisconsin's machinery manufacturing industry, which is a crucial component of the state's overall economic activity.
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 variety of sources, including industry surveys and production data.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to monitor the performance of Wisconsin's manufacturing sector and its impact on the state's economy, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data for this trend is subject to the same update delays and limitations as other economic indicators published by the U.S. Bureau of Economic Analysis, which may include lags in data reporting and potential revisions to historical figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Machinery Manufacturing (333) in Wisconsin (WIMACHMANRGSP), retrieved from FRED.