Real Gross Domestic Product: Machinery Manufacturing (333) in Colorado
COMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,163.20
Year-over-Year Change
-31.92%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Colorado. It is an important indicator of economic activity and productivity in a key manufacturing 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
The real GDP of machinery manufacturing in Colorado represents the total inflation-adjusted value of goods and services produced by this industry within the state. It is a widely-used metric for analyzing regional economic trends and industrial performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This metric provides insights into the health and competitiveness of Colorado's machinery manufacturing sector, which is closely watched by policymakers and industry analysts.
Key Facts
- Colorado's machinery manufacturing GDP was $6.8 billion in 2021.
- This sector accounts for over 8% of the state's total manufacturing output.
- Real GDP in Colorado's machinery manufacturing has grown by 23% since 2015.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and competitiveness of a key manufacturing sector in Colorado, which is important for economic policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Q: How is this trend used in economic policy?
A: This metric is closely watched by policymakers and analysts to assess the health and competitiveness of Colorado's machinery manufacturing sector, which has important implications for the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published by the Federal Reserve 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: Machinery Manufacturing (333) in Colorado (COMACHMANRGSP), retrieved from FRED.