Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Colorado
COMISCMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,312.60
Year-over-Year Change
24.21%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the miscellaneous manufacturing industry (NAICS 339) in the state of Colorado. It provides insights into the performance and productivity of this key sector within the state's economy.
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 Gross Domestic Product: Miscellaneous Manufacturing (339) in Colorado metric tracks the inflation-adjusted output of Colorado's miscellaneous manufacturing industries, which includes a diverse array of products such as medical equipment, sporting goods, office supplies, and more. This data is used by economists and policymakers to analyze the state's industrial composition and economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methods.
Historical Context
This trend is relevant for understanding the health and competitiveness of Colorado's manufacturing sector and its contribution to the state's overall economic performance.
Key Facts
- Colorado's miscellaneous manufacturing sector accounts for over 4% of the state's total GDP.
- This industry has seen steady growth of around 2.5% annually over the past decade.
- The state's diverse manufacturing base includes medical devices, sports equipment, and industrial machinery.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the miscellaneous manufacturing industry (NAICS 339) in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and productivity of a key manufacturing sector within Colorado's economy, which is useful for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the health and competitiveness of Colorado's manufacturing sector and its contribution to the state's overall economic performance, which is of interest to policymakers and economists.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision processes of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Colorado (COMISCMANRGSP), retrieved from FRED.