Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Montana
MTPETCOALMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.95
Year-over-Year Change
12.01%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Montana measures the real output of the petroleum and coal products 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 way to track changes in the real economic output of Montana's petroleum and coal products manufacturing sector over time, adjusting for inflation. It is an important indicator for analyzing the state's industrial composition and economic trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This metric is used by economists, policymakers, and businesses to understand the performance and outlook for Montana's energy manufacturing industry.
Key Facts
- Montana is a major producer of petroleum and coal products.
- The index uses 2012 as the base year.
- Values above 100 indicate real output growth.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real output of Montana's petroleum and coal products manufacturing industry, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the performance and economic contribution of a key industrial sector in Montana.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to understand the state's industrial composition and economic trends, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Montana (MTPETCOALMANQGSP), retrieved from FRED.