Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Maine
MEFURNMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.48
Year-over-Year Change
-1.92%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Maine measures the real economic output of the furniture manufacturing industry in the state. This index is a key indicator of the health and competitiveness of this important 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: Furniture and Related Product Manufacturing (337) in Maine tracks the real, inflation-adjusted output of the furniture manufacturing industry in Maine. This index is used by economists and policymakers to analyze trends in this crucial manufacturing industry and its contribution to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This index is relevant for understanding the competitiveness and market conditions facing Maine's furniture manufacturers and the broader manufacturing sector in the state.
Key Facts
- Maine's furniture manufacturing industry employs over 3,000 people.
- The index has shown modest growth in recent years.
- Furniture manufacturing accounts for around 2% of Maine's total GDP.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Maine measures the real, inflation-adjusted output of the furniture manufacturing industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of the health and competitiveness of Maine's furniture manufacturing sector, which is a key part of 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to analyze trends in Maine's furniture manufacturing industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, so there may be lags in reflecting the latest economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in Maine (MEFURNMANQGSP), retrieved from FRED.