Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Wisconsin
WIPETCOALMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
345.50
Year-over-Year Change
-12.22%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the petroleum and coal products manufacturing industry in the state of Wisconsin. It provides insight into the production and economic activity within this crucial 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 WIPETCOALMANNGSP series tracks the GDP, or total economic output, of firms engaged in the manufacturing of petroleum and coal products in Wisconsin. This metric is used by economists and policymakers to analyze the relative performance and contribution of this industry to the state's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is relevant for understanding the health and competitiveness of Wisconsin's energy-related manufacturing sector and its broader economic implications.
Key Facts
- Wisconsin's petroleum and coal products manufacturing sector accounts for over $5 billion in annual GDP.
- This industry employs more than 10,000 workers in the state.
- The GDP of this sector has grown by 3.2% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the petroleum and coal products manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the production and economic activity within this crucial energy-related manufacturing sector, which is important for understanding Wisconsin's overall economic growth 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 as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and economists analyzing the health and performance of Wisconsin's energy-related manufacturing sector and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Wisconsin (WIPETCOALMANNGSP), retrieved from FRED.