Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Colorado
CONMMPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.47
Year-over-Year Change
3.18%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Colorado measures the real output of this economic sector in the state. It is a key indicator of productivity and economic growth in this important manufacturing industry.
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 volume of real GDP, or inflation-adjusted economic output, specifically for the nonmetallic mineral product manufacturing industry in Colorado. It is a valuable metric for analyzing trends in this sector's contribution to the state's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This trend is closely watched by policymakers, industry analysts, and investors to assess the health and competitiveness of Colorado's nonmetallic mineral manufacturing sector.
Key Facts
- Colorado is a major producer of nonmetallic mineral products.
- This sector accounts for over 10% of the state's total manufacturing GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of Colorado's nonmetallic mineral product manufacturing sector, which includes industries like cement, glass, and stone production.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of productivity and economic growth in a key manufacturing industry within Colorado's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors monitor this trend to assess the health and competitiveness of Colorado's nonmetallic mineral manufacturing sector.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Colorado (CONMMPMANQGSP), retrieved from FRED.