Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Colorado
COMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.42
Year-over-Year Change
-31.91%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Colorado measures the inflation-adjusted output of the machinery manufacturing industry in the state. This metric is a key indicator of economic productivity and can inform policymakers and industry analysts.
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) quantity of goods produced by the machinery manufacturing sector in Colorado. It is a component of the overall state GDP calculation and provides insight into the performance and competitiveness of a crucial industrial segment.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and economic records.
Historical Context
Trends in this index can help assess the health of Colorado's manufacturing base and inform economic policy decisions.
Key Facts
- Colorado's machinery manufacturing sector accounts for over 10% of the state's GDP.
- The index has shown steady growth over the past decade, indicating a robust industrial base.
- Machinery manufacturing is a major employer in Colorado, supporting tens of thousands of jobs.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Colorado measures the inflation-adjusted output of the state's machinery manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of a crucial manufacturing sector in Colorado, which can inform economic policy and business decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and economic records.
Q: How is this trend used in economic policy?
A: Trends in this index can help assess the health of Colorado's manufacturing base and inform economic policy decisions by government and industry stakeholders.
Q: Are there update delays or limitations?
A: The data is released 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, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Colorado (COMACHMANQGSP), retrieved from FRED.