Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Wisconsin
WINDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,567.40
Year-over-Year Change
11.34%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Wisconsin, including industries like food, beverage, textile, and chemical production. It provides insights into the health and productivity of a key component of 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 GDP of nondurable goods manufacturing in Wisconsin reflects the total inflation-adjusted economic output of this industry group, which encompasses a diverse range of manufacturing activities. Economists and policymakers analyze this trend to understand Wisconsin's industrial composition and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
This economic indicator is useful for assessing the business climate, investment opportunities, and policy impacts within Wisconsin's manufacturing sector.
Key Facts
- Wisconsin's nondurable goods manufacturing sector accounts for over 10% of the state's total GDP.
- Food and beverage production is the largest subsector, contributing nearly half of nondurable goods manufacturing GDP.
- Real GDP in this industry group has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Wisconsin, including industries like food, beverage, textile, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and productivity of a key component of Wisconsin's economy, allowing economists and policymakers to assess the state's industrial composition and competitiveness.
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 accounts methodologies.
Q: How is this trend used in economic policy?
A: This economic indicator is useful for assessing the business climate, investment opportunities, and policy impacts within Wisconsin's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Wisconsin (WINDURMANRGSP), retrieved from FRED.