Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Montana
MTPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.40
Year-over-Year Change
21.37%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Montana. It provides insights into the economic performance and growth of this key 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 Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Montana series tracks the inflation-adjusted value added by the plastics and rubber products manufacturing industry to the state's overall economic output. This metric is useful for analyzing the industry's productivity and competitiveness within Montana's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Historical Context
Policymakers and industry analysts use this trend to assess the health and competitiveness of Montana's plastics and rubber manufacturing sector.
Key Facts
- Montana's plastics and rubber manufacturing GDP was $1.2 billion in 2021.
- This industry accounts for 3.4% of the state's total economic output.
- Real GDP in this sector has grown by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and competitiveness of Montana's plastics and rubber manufacturing sector, which is an important part of the state's industrial base.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the health and growth of Montana's plastics and rubber manufacturing industry, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Montana (MTPLASRUBMANRGSP), retrieved from FRED.