Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Maryland
MDFURNMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45.83
Year-over-Year Change
-24.45%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Maryland measures the inflation-adjusted economic output of the furniture manufacturing industry in the state.
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 standardized measure of the real production volume for the furniture manufacturing sector in Maryland, allowing for comparison over time and analysis of economic trends within this industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using chain-type quantity indexes.
Historical Context
This metric is used by economists, policymakers, and industry analysts to track the health and competitiveness of Maryland's furniture manufacturing sector.
Key Facts
- Maryland is a major center of furniture production in the U.S.
- The furniture manufacturing industry accounts for over 10,000 jobs in the state.
- This index is updated quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted real output of the furniture manufacturing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key manufacturing sector in the Maryland economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using chain-type quantity indexes.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to monitor the health of Maryland's furniture manufacturing sector and inform economic development strategies.
Q: Are there update delays or limitations?
A: This index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Maryland (MDFURNMANQGSP), retrieved from FRED.