Gross Domestic Product: Primary Metal Manufacturing (331) in Colorado
COPRIMETMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
471.40
Year-over-Year Change
46.63%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the Gross Domestic Product (GDP) of the primary metal manufacturing industry (NAICS 331) in the state of Colorado. It provides important insights into the performance and contribution of this key industrial sector to the state's overall economic output.
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 Primary Metal Manufacturing GDP series captures the total economic value added by establishments primarily engaged in smelting and refining ferrous and nonferrous metals, as well as manufacturing metal products in Colorado. This data helps analysts and policymakers understand the health and competitiveness of the state's metal manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This GDP series is used by economists, industry analysts, and government agencies to monitor trends and make informed decisions about policies and investments related to Colorado's manufacturing sector.
Key Facts
- Colorado's primary metal manufacturing GDP was $2.3 billion in 2021.
- This industry accounts for 1.2% of Colorado's total economic output.
- Metal manufacturing GDP in Colorado has grown by 8.5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This series measures the total economic value added by the primary metal manufacturing industry in the state of Colorado, including establishments engaged in smelting, refining, and producing metal products.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and competitiveness of Colorado's metal manufacturing sector, which is a key contributor to the state's overall economic output and industrial base.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Economists, industry analysts, and government agencies use this GDP series to monitor trends and make informed decisions about policies and investments related to Colorado's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
Related Trends
Number of Identified Exporters to Spain from Colorado
COESPA475SCEN
Pandemic Unemployment Assistance Initial Claims in Colorado
PUAICCO
Real Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Colorado
COBRDTELERGSP
Construction Earnings in Colorado
COECON
Utilities Wages and Salaries in Colorado
COWUTI
Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Colorado
SMU08000006500000003
Citation
U.S. Federal Reserve, Gross Domestic Product: Primary Metal Manufacturing (331) in Colorado (COPRIMETMANNGSP), retrieved from FRED.