Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Maine
MEPRIGOODPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.77
Year-over-Year Change
12.37%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Maine measures the real output of private goods-producing industries in the state. This key economic indicator provides insight into the health and growth of Maine's industrial production.
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 quantity of real, inflation-adjusted economic output from Maine's private goods-producing sector, which includes industries like manufacturing, mining, and construction. The index is a valuable tool for analyzing trends and performance in the state's industrial economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Historical Context
Policymakers and analysts use this index to gauge the strength of Maine's industrial base and inform economic policies and business strategies.
Key Facts
- The index has a base year of 2012.
- Real GDP growth in Maine's private goods-producing sector was 2.5% in 2021.
- The index reached an all-time high of 116.6 in Q4 2021.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Maine measures the real, inflation-adjusted output of Maine's private goods-producing sector, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the performance and growth of Maine's industrial economy, which is a key driver of the state's overall economic activity. It is used by policymakers, businesses, and economists to assess economic conditions and inform decision-making.
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 index formula to measure real, inflation-adjusted output from Maine's private goods-producing industries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to gauge the strength of Maine's industrial base and inform economic policies, business strategies, and investment decisions related to the state's goods-producing sectors.
Q: Are there update delays or limitations?
A: The index data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Maine (MEPRIGOODPROQGSP), retrieved from FRED.