Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Minnesota
MNFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.24
Year-over-Year Change
-5.38%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Minnesota measures the real output of this industry in the state. It is an important economic indicator for understanding manufacturing trends 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 provides a measure of the real, inflation-adjusted output of the fabricated metal product manufacturing industry in Minnesota. It is used by economists and policymakers to assess the health and performance of this key manufacturing sector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production data.
Historical Context
Trends in this index are monitored by businesses, industry groups, and government agencies to inform economic and policy decisions.
Key Facts
- This index is measured on a scale where 2012 = 100.
- Fabricated metal products are a key component of Minnesota's industrial economy.
- The index provides a proxy for productivity and output growth in this industry.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the fabricated metal product manufacturing industry in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the health and performance of a critical manufacturing sector within the Minnesota economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production data.
Q: How is this trend used in economic policy?
A: Policymakers and businesses monitor this index to inform decisions related to economic development, workforce planning, and industrial policy in Minnesota.
Q: Are there update delays or limitations?
A: The index is published quarterly with a lag of several months, and may be subject to revisions as more data becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Minnesota (MNFABRMETQGSP), retrieved from FRED.