Gross Domestic Product: Manufacturing (31-33) in Maine
MEMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,389.80
Year-over-Year Change
4.57%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Manufacturing (31-33) in Maine measures the economic output of the manufacturing sector in the state. It is a key indicator of industrial activity and an important statistic for policymakers and economists.
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 indicator represents the total economic value generated by manufacturing industries in Maine, including subsectors such as durable and non-durable goods production. It is widely used to assess the health and performance of the state's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and sales statistics.
Historical Context
This metric informs decisions around industrial policy, workforce development, and macroeconomic trends in Maine.
Key Facts
- Manufacturing accounts for over 10% of Maine's total GDP.
- Durable goods production makes up the largest share of Maine's manufacturing output.
- Maine's manufacturing GDP has grown by 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total economic output of the manufacturing sector in the state of Maine, including both durable and non-durable goods production.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing GDP in Maine is a critical statistic for understanding the state's industrial base and economic performance. It informs policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and sales statistics from manufacturing establishments in Maine.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and businesses to evaluate the health of Maine's manufacturing sector and inform decisions around industrial development, workforce planning, and overall economic strategy.
Q: Are there update delays or limitations?
A: The manufacturing GDP data for Maine is published quarterly with a lag of approximately 3 months. There may also be revisions to historical data as more complete information becomes available.
Related Trends
Coefficient for Industrial Carbon Dioxide Emissions, Industrial Other for Maine
EMISSCO2CCLICBMEA
Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Maine
MEPCERECGD
Gross Domestic Product: Real Estate (531) in Maine
MEREALNGSP
Real Gross Domestic Product: Federal Civilian in Maine
MEGOVFEDCIVRGSP
Real Gross Domestic Product: Private Industries in Maine
MEPIRQGSP
Chain-Type Quantity Index for Real GDP: Real Estate (531) in Maine
MEREALQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Maine (MEMANNQGSP), retrieved from FRED.