Gross Domestic Product: Miscellaneous Manufacturing (339) in Maryland
MDMISCMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,222.60
Year-over-Year Change
157.82%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Miscellaneous Manufacturing (339) in Maryland' trend measures the economic output of the miscellaneous manufacturing sector in the state of Maryland. This data is important for economists and policymakers to analyze the health and performance of Maryland's manufacturing industry.
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 represents the real gross domestic product (GDP) for the miscellaneous manufacturing industry in the state of Maryland. It is a key indicator of economic activity and productivity in this sector, which includes a diverse range of manufacturing activities not classified elsewhere.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional economic accounts.
Historical Context
Policymakers and industry analysts use this data to understand trends in Maryland's manufacturing economy and inform economic development strategies.
Key Facts
- Maryland's miscellaneous manufacturing sector contributed $7.2 billion to the state's GDP in 2021.
- This industry accounts for 3.5% of Maryland's total manufacturing GDP.
- Miscellaneous manufacturing in Maryland has grown by 2.3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the miscellaneous manufacturing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the performance and contribution of Maryland's diverse manufacturing base to the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to inform economic development strategies and understand trends in Maryland's manufacturing sector.
Q: Are there update delays or limitations?
A: This data is released on a quarterly basis, with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Manufacturing (339) in Maryland (MDMISCMANNGSP), retrieved from FRED.