Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Colorado
COWPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.37
Year-over-Year Change
27.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Colorado measures the real output of the wood product manufacturing industry in Colorado. This metric is important for economists and policymakers to understand economic activity and production trends in this key industrial 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 Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Colorado tracks the real, inflation-adjusted output of the wood product manufacturing industry in the state. This index provides insight into the productivity and health of this important component of Colorado's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price indices.
Historical Context
This economic indicator helps inform policy decisions and market analysis related to the wood products industry in Colorado.
Key Facts
- Colorado is a major producer of wood products in the U.S.
- The wood products industry employs over 10,000 workers in Colorado
- Real GDP in Colorado's wood products sector grew by 5% in 2021
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted output of the wood product manufacturing industry in Colorado.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the productivity and health of a key industrial sector in 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 production and price indices.
Q: How is this trend used in economic policy?
A: This economic indicator helps inform policy decisions and market analysis related to the wood products industry in Colorado.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-3 month delay.
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Citation
U.S. Bureau of Economic Analysis, Chain-Type Quantity Index for Real GDP: Wood Product Manufacturing (321) in Colorado (COWPMANQGSP), retrieved from FRED.