Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Minnesota
MNDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.52
Year-over-Year Change
12.80%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Minnesota measures the volume of output from the durable goods manufacturing sector in the state. This metric is important for economists and policymakers to assess regional economic activity 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 quantity of goods produced by durable goods manufacturers in Minnesota, including industries like machinery, electronics, and transportation equipment. It provides insight into the health and competitiveness of the state's industrial base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Historical Context
Policymakers use this metric to gauge the effectiveness of economic development initiatives and investments in the manufacturing sector.
Key Facts
- Minnesota's durable goods output accounts for over 10% of the state's total GDP.
- This index has increased by 25% over the past decade, outpacing the national average.
- The transportation equipment industry is the largest component of Minnesota's durable goods sector.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted quantity of output from the durable goods manufacturing sector in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the health and competitiveness of Minnesota's industrial base, which is crucial for understanding regional economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to gauge the effectiveness of economic development initiatives and investments in the manufacturing sector.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Minnesota (MNDURMANQGSP), retrieved from FRED.