Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Wisconsin
WIMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.95
Year-over-Year Change
-2.19%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Wisconsin measures the volume of manufacturing output in the state's economy. It is a key indicator for assessing the health and performance of Wisconsin's 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
This index tracks changes in the real (inflation-adjusted) value of manufacturing gross domestic product (GDP) produced in Wisconsin. It provides insight into the productivity and competitiveness of the state's manufacturing industries, which are a crucial component of the overall economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in industry composition over time.
Historical Context
Policymakers and analysts monitor this index to gauge the strength of Wisconsin's manufacturing base and inform economic development strategies.
Key Facts
- Manufacturing accounts for over 15% of Wisconsin's GDP.
- The state's manufacturing sector employs more than 450,000 workers.
- Wisconsin is a top producer of machinery, food products, and paper goods.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Wisconsin measures the volume of manufacturing output in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and competitiveness of Wisconsin's manufacturing sector, which is a crucial driver of the state's economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in industry composition over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to gauge the strength of Wisconsin's manufacturing base and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Wisconsin (WIMANQGSP), retrieved from FRED.