Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Montana
MTWPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.76
Year-over-Year Change
-20.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Montana measures the inflation-adjusted production volume of the wood products industry in the state. This metric provides valuable insights into the health and performance of a key manufacturing sector in the regional 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
The Chain-Type Quantity Index for Real GDP tracks the real, or inflation-adjusted, output of the wood products manufacturing industry in Montana. This allows economists and policymakers to analyze trends in productivity, competitiveness, and the overall contribution of this industry to the state's economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted index formula.
Historical Context
This economic indicator is used to inform economic and industry policies, as well as investment decisions related to the wood products sector in Montana.
Key Facts
- Montana is a major producer of wood products in the U.S.
- The wood products industry accounts for a significant portion of the state's manufacturing output.
- This index helps track the performance of a critical industry in the Montana economy.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Montana measures the inflation-adjusted production volume of the wood products industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and performance of a key manufacturing sector in the regional economy, which is important for economic and industry analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted index formula.
Q: How is this trend used in economic policy?
A: This economic indicator is used to inform economic and industry policies, as well as investment decisions related to the wood products sector in Montana.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Montana (MTWPMANQGSP), retrieved from FRED.