Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Wisconsin
WIPETCOALMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
184.90
Year-over-Year Change
-29.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the petroleum and coal products manufacturing industry in the state of Wisconsin. It is an important indicator of the strength and productivity of this key sector within 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 Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Wisconsin series tracks the inflation-adjusted value added by this industry to the state's overall economic output. It provides insights into the performance and competitiveness of this manufacturing segment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Historical Context
This trend is relevant for understanding Wisconsin's industrial composition and economic diversification.
Key Facts
- Wisconsin is a major producer of petroleum and coal products.
- This industry accounts for a significant portion of the state's manufacturing GDP.
- Trends in this sector reflect the overall health of Wisconsin's energy-related manufacturing base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product 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 trend provides insights into the performance and competitiveness of a key manufacturing segment within Wisconsin's economy, which is important for understanding the state's industrial composition and economic diversification.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Q: How is this trend used in economic policy?
A: Analysts and policymakers can use this trend to assess the health and competitiveness of Wisconsin's energy-related manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the statistical agency, and there may be some delay in the most recent quarterly updates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Wisconsin (WIPETCOALMANRGSP), retrieved from FRED.