Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Alabama
ALNMMPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
156.06
Year-over-Year Change
68.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Alabama measures the real output of this manufacturing industry in the state. It is an important indicator for economists and policymakers to assess the health and productivity of this economic sector.
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 tracks the real (inflation-adjusted) volume of goods produced by nonmetallic mineral product manufacturers in Alabama. It provides insight into the state's industrial activity and economic conditions within this specific manufacturing industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric is used by analysts to monitor trends in Alabama's manufacturing economy and inform economic policymaking.
Key Facts
- Alabama is a major producer of nonmetallic mineral products.
- This industry accounts for a significant portion of the state's manufacturing GDP.
- The real output index has shown volatility in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) quantity of goods produced by the nonmetallic mineral product manufacturing industry in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and health of an important manufacturing sector in Alabama, which is useful for economic analysis and policymaking.
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 formula.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this index to monitor trends in Alabama's manufacturing economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Alabama (ALNMMPMANQGSP), retrieved from FRED.