Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in West Virginia
WVFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
384.20
Year-over-Year Change
-25.70%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the fabricated metal product manufacturing industry in West Virginia. It provides insights into the performance and productivity of this key manufacturing 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: Fabricated Metal Product Manufacturing (332) in West Virginia series tracks the inflation-adjusted value-added output of this important manufacturing industry. It is a widely used indicator of economic activity and productivity in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of West Virginia's manufacturing base.
Key Facts
- Fabricated metal manufacturing is a key part of West Virginia's industrial economy.
- This sector accounts for over 10% of the state's total manufacturing GDP.
- Real GDP in this industry has grown by 25% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) of the fabricated metal product manufacturing industry in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and productivity of a critical manufacturing sector within West Virginia's economy, informing economic policy and business decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this metric to assess the health and competitiveness of West Virginia's manufacturing base and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in West Virginia (WVFABRMETRGSP), retrieved from FRED.