Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Connecticut
CTMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.66
Year-over-Year Change
-16.96%
Date Range
1/1/1997 - 1/1/2023
Summary
This index tracks the chain-type quantity index for real GDP in the machinery manufacturing industry (NAICS 333) for the state of Connecticut. It provides insights into the production trends of this key 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 chain-type quantity index for real GDP in machinery manufacturing (NAICS 333) measures the real output of this industry in Connecticut. It is an important indicator of economic activity and productivity within this critical manufacturing segment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This index helps policymakers and economists assess the health and growth dynamics of Connecticut's machinery manufacturing industry.
Key Facts
- Connecticut is a major hub for machinery manufacturing.
- The machinery industry accounts for over 10% of the state's GDP.
- This index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or production of the machinery manufacturing industry (NAICS 333) in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the health and growth dynamics of a critical manufacturing sector in the Connecticut economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the performance and competitiveness of Connecticut's machinery manufacturing industry.
Q: Are there update delays or limitations?
A: The index is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Connecticut (CTMACHMANQGSP), retrieved from FRED.