Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Wisconsin
WINMMPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,680.50
Year-over-Year Change
28.22%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Wisconsin. It provides insight into the performance and contribution of this key manufacturing sector to the state's overall economic output.
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 nonmetallic mineral product manufacturing industry includes the production of a variety of materials such as glass, cement, concrete, and other nonmetallic mineral products. Tracking the GDP of this industry in Wisconsin helps analysts and policymakers understand the state's economic composition and competitiveness in this important manufacturing area.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Historical Context
This economic indicator is used by government agencies, businesses, and researchers to monitor the health and trends within Wisconsin's manufacturing sector and guide policy decisions.
Key Facts
- Wisconsin's nonmetallic mineral product manufacturing industry contributed $3.3 billion to the state's GDP in 2021.
- This industry accounts for 2.4% of Wisconsin's total economic output.
- The GDP of this sector has grown by 8.2% in Wisconsin over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of this industry provides insight into the performance 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 as part of their GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This indicator is used by government agencies, businesses, and researchers to monitor the health and trends within Wisconsin's manufacturing sector and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Wisconsin (WINMMPMANNGSP), retrieved from FRED.