Real Gross Domestic Product: Primary Metal Manufacturing (331) in Colorado
COPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
524.40
Year-over-Year Change
125.45%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in Colorado. It provides valuable insights into the state's industrial productivity and economic performance.
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: Primary Metal Manufacturing (331) in Colorado series represents the inflation-adjusted value of goods and services produced by the primary metal manufacturing sector in the state. This metric is crucial for analyzing the health and competitiveness of Colorado's industrial base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely used by policymakers, industry analysts, and investors to gauge the strength and outlook of Colorado's manufacturing sector.
Key Facts
- Colorado's primary metal manufacturing sector accounts for over 5% of the state's total GDP.
- This industry has experienced steady growth in real GDP over the past decade.
- The performance of the primary metal manufacturing sector is closely tied to the broader economic conditions in Colorado.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the productivity and competitiveness of Colorado's industrial base, which is crucial for policymakers, industry analysts, and investors.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, industry analysts, and investors to gauge the strength and outlook of Colorado's manufacturing sector, which informs economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the statistical agency, which may result in slight delays in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in Colorado (COPRIMETMANRGSP), retrieved from FRED.