Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Maryland
MDMISCMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,084.20
Year-over-Year Change
116.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Maryland measures the inflation-adjusted economic output of the miscellaneous manufacturing industry in the state. This metric is important for analyzing the health and trends of Maryland's 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
This series represents the real, or inflation-adjusted, gross domestic product originating from the miscellaneous manufacturing industry in the state of Maryland. Miscellaneous manufacturing includes a diverse range of products not classified elsewhere, such as medical equipment, sporting goods, and office supplies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP measurements.
Historical Context
Policymakers and economists monitor this trend to assess the performance and competitiveness of Maryland's manufacturing base.
Key Facts
- Miscellaneous manufacturing accounts for about 2% of Maryland's total GDP.
- This industry has seen steady growth in recent years, outpacing the national average.
- Medical device and equipment production is a key component of Maryland's miscellaneous manufacturing sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product originating from the miscellaneous manufacturing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Maryland's manufacturing base, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP measurements.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health and trajectory of Maryland's manufacturing sector, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months. There may also be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Miscellaneous Manufacturing (339) in Maryland (MDMISCMANRGSP), retrieved from FRED.