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Strength of correlation (R squared): 0.792 (this correlation is significant)
Outliers:
South Carolina,
Georgia
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Real GSP > Textile and textile product mills (per $ GDP) |
Industry > Textile product mills > Value added (per $ GDP) |
| Plot Display: |
Logarithmic (base 10) |
Linear |
| Definition: |
Textile and textile product mills, Real GSP (chained 2000 dollars) GSP, or Gross State Product is the value of all the goods and services produced in a state. Specific industries measured will give the value of all goods and services in that industry. The Nominal Gross State Product measures the value of all the goods and services produced expressed in current prices. On the other hand, Real Gross State Product measures the value of all the goods and services produced expressed in the prices of some base year.
Per $ GDP figures expressed per 10,000 $ gross domestic product. |
This measure of manufacturing activity is derived by subtracting the cost of materials, supplies, containers, fuel, purchased electricity, and contract work from the value of shipments (products manufactured plus receipts for services rendered). The result of this calculation is adjusted by the addition of value added by merchandising operations (i.e., the difference between the sales value and the cost of merchandise sold without further manufacture, processing, or assembly) plus the net change in finished goods and work-in-process between the beginning- and end-of-year inventories.
Per $ GDP figures expressed per 10,000 $ gross domestic product. |
| Source: |
U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.
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Annual Survey of Manufactures, 2004
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| Correlations: |
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