Real Gross Domestic Product: Private Goods-Producing Industries in Wisconsin
WIPRIGOODPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76,286.50
Year-over-Year Change
5.40%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Private Goods-Producing Industries in Wisconsin measures the inflation-adjusted economic output of private goods-producing industries in the state. This metric is crucial for understanding Wisconsin's economic performance and growth.
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 series represents the real value added by private goods-producing industries in Wisconsin, such as manufacturing, mining, and construction. It is a key indicator of the state's industrial production and an important measure for policymakers and analysts assessing the health of the Wisconsin economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Historical Context
Trends in this metric can inform decisions around economic development, fiscal policy, and investment in Wisconsin.
Key Facts
- Wisconsin's private goods-producing industries account for over 20% of the state's GDP.
- Real GDP in Wisconsin's private goods-producing sector has grown by 15% since 2010.
- Manufacturing is the largest component of Wisconsin's private goods-producing industries.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted value added by private goods-producing industries in the state of Wisconsin, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the performance and growth of Wisconsin's industrial economy, which is a key driver of the state's overall economic activity.
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 information.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform decisions around economic development, fiscal policy, and investment in Wisconsin by policymakers and analysts.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with some lag from the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Goods-Producing Industries in Wisconsin (WIPRIGOODPRORGSP), retrieved from FRED.