Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Colorado
CONDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,273.90
Year-over-Year Change
8.40%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Colorado. It provides insights into the production and economic output of industries like food, beverage, textile, and chemical manufacturing within 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
The Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Colorado series represents the inflation-adjusted value-added output of nondurable goods manufacturing businesses in Colorado. It is a key indicator of the manufacturing sector's contribution to the state's overall economic activity and growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price data from various sources.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of Colorado's manufacturing base.
Key Facts
- Colorado's nondurable goods manufacturing sector accounts for over 20% of the state's total GDP.
- The nondurable goods industry employs more than 100,000 workers in Colorado.
- Food and beverage manufacturing is the largest subsector within Colorado's nondurable goods production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Colorado, including industries like food, beverage, textile, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the production, economic output, and competitiveness of Colorado's nondurable goods manufacturing sector, which is a significant driver of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price data from various sources.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of Colorado's manufacturing base, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a short publication delay, but it provides a reliable and comprehensive view of nondurable goods manufacturing activity in Colorado.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Colorado (CONDURMANRQGSP), retrieved from FRED.