Real Gross Domestic Product: Manufacturing (31-33) in Colorado
COMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,054.70
Year-over-Year Change
-0.34%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Manufacturing (31-33) in Colorado trend measures the real output of the manufacturing sector in Colorado. This metric is a key indicator of the state's economic performance and competitiveness.
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 series represents the real (inflation-adjusted) value added by the manufacturing industry in Colorado, which includes industries such as food production, machinery, and transportation equipment. Economists and policymakers closely monitor this trend to assess the health and productivity of the state's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Manufacturing output is an important input for understanding Colorado's broader economic conditions and competitiveness.
Key Facts
- Colorado's manufacturing GDP reached $35.5 billion in 2021.
- The manufacturing sector accounts for over 6% of Colorado's total economic output.
- Manufacturing productivity in Colorado has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) value added by the manufacturing industry in Colorado, including sectors like food production, machinery, and transportation equipment.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing output is a key indicator of Colorado's economic performance and competitiveness. Tracking this trend helps economists and policymakers assess the health and productivity of the state's manufacturing base.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates for Colorado.
Q: How is this trend used in economic policy?
A: Manufacturing output is an important input for understanding Colorado's broader economic conditions and competitiveness. Policymakers use this trend to evaluate the state's industrial base and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months. There may also be revisions to historical estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Manufacturing (31-33) in Colorado (COMANRQGSP), retrieved from FRED.