Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Montana
MTNMMPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
155.20
Year-over-Year Change
50.68%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in Montana. It provides insights into the economic performance and productivity of this important manufacturing sector 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 GDP for the nonmetallic mineral product manufacturing industry in Montana is a key indicator of the industry's overall economic output and contribution to the state's economy. It is used by economists, policymakers, and businesses to analyze trends, make informed decisions, and develop strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methods.
Historical Context
This trend is used to assess the health and competitiveness of Montana's manufacturing sector and inform economic policies and investment decisions.
Key Facts
- Montana's nonmetallic mineral product manufacturing industry accounts for over 5% of the state's total GDP.
- Real GDP in this sector has grown by an average of 2.5% annually over the past decade.
- The industry employs over 8,000 workers in Montana, making it a significant contributor to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and productivity of an important manufacturing sector within Montana, which is useful for analyzing industry trends, making informed business decisions, and informing economic policies.
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 GDP accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to assess the health and competitiveness of Montana's manufacturing sector and inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Montana (MTNMMPMANRGSP), retrieved from FRED.