Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Maine
MENMMPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.82
Year-over-Year Change
10.98%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Maine measures the real output of this key manufacturing sector in the state. This provides important insights into Maine's economic performance and productivity.
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 index tracks the real, inflation-adjusted GDP contribution of nonmetallic mineral product manufacturing firms in Maine. It is a valuable indicator of the state's industrial production and competitiveness within this important manufacturing subsector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula applied to real GDP figures.
Historical Context
Economists and policymakers monitor this index to assess the health and trajectory of Maine's manufacturing economy.
Key Facts
- Maine's nonmetallic mineral product manufacturing accounts for over 3% of the state's total GDP.
- This index uses 2012 as the base year for measurement.
- The index reached a high of 121.11 in 2015 before declining in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the nonmetallic mineral product manufacturing sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and competitiveness of a key manufacturing industry in Maine, which is crucial for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula applied to real GDP figures.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this index to assess the health and trajectory of Maine's manufacturing economy, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Federal Reserve and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Maine (MENMMPMANQGSP), retrieved from FRED.