Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Wisconsin
WIPLASRUBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.24
Year-over-Year Change
-2.17%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Wisconsin measures the real output of the plastics and rubber manufacturing industry in the state. This metric is important for economists and policymakers to assess the health and productivity of a key 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 provides a measure of the real, inflation-adjusted output of plastics and rubber products manufacturing in Wisconsin. It allows for analysis of industry performance and productivity trends over time, which can inform economic policy decisions and business investment strategies.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production indices and price deflators.
Historical Context
Trends in this manufacturing index are closely watched by state and national policymakers to gauge the competitiveness of Wisconsin's economy.
Key Facts
- Wisconsin is a major hub for plastics and rubber manufacturing.
- This index has shown steady growth in recent years.
- The sector employs over 30,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the plastics and rubber products manufacturing industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: Trends in this manufacturing index are closely watched by economists and policymakers to assess the health and competitiveness of a key sector of Wisconsin's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production indices and price deflators.
Q: How is this trend used in economic policy?
A: This index informs state and national policymakers about the performance of Wisconsin's plastics and rubber manufacturing industry, which can guide economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in assessing the most recent industry conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Wisconsin (WIPLASRUBMANQGSP), retrieved from FRED.