Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Maine
MENDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,262.10
Year-over-Year Change
-7.73%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Maine. It provides insight into the production and economic activity of industries like food, apparel, paper, and chemical manufacturing within 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
The Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Maine series tracks the inflation-adjusted economic output of these critical manufacturing industries over time. It is an important indicator for understanding Maine's industrial composition and economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric informs policymakers and analysts about the health and competitiveness of Maine's manufacturing base.
Key Facts
- Maine's nondurable goods manufacturing accounts for about 5% of the state's total GDP.
- This sector includes major industries like food, paper, and chemical production.
- Nondurable goods manufacturing GDP in Maine has declined by 10% since 2005.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the production and economic performance of critical manufacturing industries within Maine, informing policymakers and analysts about the state's industrial composition and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to assess the health and competitiveness of Maine's manufacturing base, which is an important driver of the state's overall economic activity.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Maine (MENDURMANRQGSP), retrieved from FRED.