Value-Added Output for Private Nonfarm in Maryland
IPUZNT300240000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
383,979.54
Year-over-Year Change
65.47%
Date Range
1/1/2007 - 1/1/2024
Summary
The Value-Added Output for Private Nonfarm in Maryland metric tracks the total economic output generated by private businesses in the state, excluding the farm sector. This data provides important insights into Maryland's overall economic performance and productivity.
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 Value-Added Output for Private Nonfarm in Maryland series measures the total value added by private non-farm businesses in the state. This metric is a key indicator of economic activity and productivity, as it captures the net output of the private sector after accounting for intermediate inputs and services.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government surveys and economic indicators.
Historical Context
Policymakers and analysts use this metric to assess the health and competitiveness of Maryland's private economy.
Key Facts
- Maryland's private non-farm value-added output was $368 billion in 2021.
- The metric grew by 5.2% in 2021 compared to the previous year.
- The private non-farm sector accounts for over 90% of Maryland's total economic output.
FAQs
Q: What does this economic trend measure?
A: The Value-Added Output for Private Nonfarm in Maryland metric measures the total economic output generated by private businesses in the state, excluding the farm sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall health and productivity of Maryland's private economy, which is a key driver of the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government surveys and economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the competitiveness and growth potential of Maryland's private sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Value-Added Output for Private Nonfarm in Maryland (IPUZNT300240000), retrieved from FRED.