Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Minnesota
MNELCEQAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,028.20
Year-over-Year Change
-15.45%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry in Minnesota. It provides insight into the performance and growth of this key manufacturing sector within the state's economy.
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 Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Minnesota metric tracks the inflation-adjusted value of goods and services produced by this industry in the state. It is an important indicator of economic activity and productivity in a core manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic census information.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and investors to assess the health and competitiveness of Minnesota's manufacturing base.
Key Facts
- Minnesota is a top U.S. state for electrical equipment manufacturing.
- This industry accounts for over 5% of the state's total manufacturing GDP.
- Real GDP in this sector has grown by 20% in Minnesota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and competitiveness of a critical manufacturing segment within Minnesota's economy, informing economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic census information.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors closely monitor this trend to assess the health and competitiveness of Minnesota's manufacturing base, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: There may be a several month delay in the availability of this data due to the time required for data collection and analysis by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Minnesota (MNELCEQAPMANRGSP), retrieved from FRED.