Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Colorado
COFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.47
Year-over-Year Change
-16.59%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Colorado measures the real economic output of the fabricated metal product 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 quantitative measure of the production volume of fabricated metal products in Colorado, adjusted for inflation. It is used by economists and policymakers to analyze trends in this key industrial sector and understand its contribution to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production data and price indices.
Historical Context
This metric informs economic decision-making and investment strategies related to the fabricated metals industry in Colorado.
Key Facts
- Colorado's fabricated metal manufacturing industry accounts for over 20,000 jobs.
- The index has shown steady growth since the 2008 recession.
- Fabricated metal products are a key input for many other industries.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the fabricated metal product manufacturing industry in Colorado.
Q: Why is this trend relevant for users or analysts?
A: The fabricated metals industry is an important component of Colorado's economy, so this metric provides valuable insights into production and growth trends in this sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production data and price indices.
Q: How is this trend used in economic policy?
A: This metric informs decision-making and investment strategies related to the fabricated metals industry in Colorado, which is a key input for many other industries.
Q: Are there update delays or limitations?
A: The data is updated quarterly, with a typical 1-2 month lag from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Colorado (COFABRMETQGSP), retrieved from FRED.