Real Gross Domestic Product: Machinery Manufacturing (333) in Connecticut
CTMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,500.20
Year-over-Year Change
-16.96%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the machinery manufacturing industry in Connecticut. It provides insights into the productivity and output of this key manufacturing sector within the state's economy.
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 machinery manufacturing in Connecticut tracks the inflation-adjusted total value of goods and services produced by this industry. It is an important indicator of the industry's economic performance and its contribution to the state's overall economic growth.
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 closely monitored by policymakers, industry analysts, and economists to assess the health and competitiveness of Connecticut's manufacturing sector.
Key Facts
- Connecticut is a major hub for machinery manufacturing in the U.S.
- The machinery manufacturing industry accounts for over 10% of the state's GDP.
- Real GDP for this sector has grown by 8% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the machinery manufacturing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and economic performance of a key manufacturing sector in Connecticut, which is crucial for policymakers, industry analysts, and economists to assess.
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 closely monitored by policymakers, industry analysts, and economists to assess the health and competitiveness of Connecticut's manufacturing sector, which is crucial for economic development and growth strategies.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to revisions and updates based on new information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Machinery Manufacturing (333) in Connecticut (CTMACHMANRGSP), retrieved from FRED.