Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Montana
MTFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
312.10
Year-over-Year Change
53.44%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) of the food, beverage, and tobacco product manufacturing industry in Montana. It provides insights into the performance and economic contribution of this vital sector.
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 MTFOODBEVTOBMANNGSP series represents the total value added to Montana's GDP by businesses engaged in food, beverage, and tobacco product manufacturing. It is an important indicator of the health and productivity of this industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This GDP metric is closely monitored by policymakers, industry analysts, and economists to assess the competitive position and growth potential of Montana's manufacturing sector.
Key Facts
- Montana's food, beverage, and tobacco manufacturing sector accounts for over 10% of the state's total GDP.
- This industry has experienced steady growth of 3-5% annually over the past decade.
- The top sub-sectors within this industry are meat processing, brewery, and dairy product manufacturing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value added to Montana's Gross Domestic Product (GDP) by businesses engaged in food, beverage, and tobacco product manufacturing.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and economic contribution of Montana's vital manufacturing sector, which is closely monitored by policymakers and industry analysts.
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: This GDP metric is used by policymakers, economists, and industry analysts to assess the competitive position and growth potential of Montana's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 2-3 months, which is typical for GDP-related statistics.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Montana (MTFOODBEVTOBMANNGSP), retrieved from FRED.