Real Gross Domestic Product: Private Industries in Montana
MTPIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,427.90
Year-over-Year Change
3.48%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Real Gross Domestic Product: Private Industries in Montana' series measures the economic output of private industries in the state of Montana, adjusted for inflation. This metric is crucial for understanding the health and growth of Montana's private sector economy.
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 series represents the real (inflation-adjusted) value added by private industries in Montana's gross domestic product (GDP). It is a key indicator of private economic activity and can be used to analyze trends in productivity, investment, and business conditions within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using information on the output and prices of goods and services produced by Montana's private sector.
Historical Context
Policymakers and analysts monitor this trend to gauge the strength of Montana's private economy and inform decisions around economic development, taxation, and other policies.
Key Facts
- Montana's private industries account for over 75% of the state's total GDP.
- Real private GDP in Montana grew by 2.8% in 2021 compared to the prior year.
- The mining, construction, and professional services sectors are major contributors to Montana's private GDP.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) value added by private industries to Montana's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the health and growth of Montana's private sector economy, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using information on the output and prices of goods and services produced by Montana's private sector.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge the strength of Montana's private economy and inform decisions around economic development, taxation, and other policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions in Montana.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Montana (MTPIRQGSP), retrieved from FRED.