Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Colorado
CONMMPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
923.70
Year-over-Year Change
3.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in Colorado. It provides insights into the productivity and output of this important 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 for nonmetallic mineral product manufacturing in Colorado reflects the total value of goods and services produced by this industry, adjusted for inflation. This metric is useful for analyzing the performance and competitiveness of Colorado's construction materials and other nonmetallic mineral product manufacturing.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This economic trend is relevant for policymakers, economists, and industry analysts seeking to understand the drivers of Colorado's manufacturing economy.
Key Facts
- Colorado's nonmetallic mineral product manufacturing industry accounts for over 5% of the state's total GDP.
- This sector has experienced steady growth, with a 15% increase in real GDP over the past decade.
- The construction industry is a major customer for Colorado's nonmetallic mineral product manufacturers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and output of Colorado's construction materials and other nonmetallic mineral product manufacturing, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and industry analysts seeking to understand the drivers of Colorado's manufacturing economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Colorado (CONMMPMANRGSP), retrieved from FRED.