Gross Domestic Product: Manufacturing (31-33) in Maryland
MDMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,737.40
Year-over-Year Change
11.89%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Manufacturing (31-33) in Maryland' metric tracks the total economic output of the manufacturing sector in the state of Maryland. This data point is a key indicator of the health and productivity of Maryland's industrial base.
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
This series measures the gross domestic product (GDP) originating from the manufacturing industry in Maryland, including subsectors such as durable and nondurable goods production. Manufacturing GDP is an important gauge of a state's industrial activity and economic diversification.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this metric to assess Maryland's economic competitiveness and make informed decisions about industrial development strategies.
Key Facts
- Manufacturing accounts for over 5% of Maryland's total GDP.
- Maryland's manufacturing GDP has grown by 12% over the past decade.
- The largest manufacturing subsectors in Maryland are chemical, computer, and transportation equipment production.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total gross domestic product (GDP) originating from the manufacturing industry in the state of Maryland, including durable and nondurable goods production.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing GDP is a key indicator of a state's industrial activity and economic diversification, making this data point crucial for policymakers and analysts assessing Maryland's economic competitiveness.
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: Policymakers and analysts use this metric to make informed decisions about industrial development strategies and assess Maryland's economic competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Maryland (MDMANNQGSP), retrieved from FRED.