Real Gross Domestic Product: Warehousing and Storage (493) in Minnesota
MNWARESTORRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
776.40
Year-over-Year Change
60.51%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Warehousing and Storage (493) in Minnesota measures the inflation-adjusted economic output of the warehousing and storage industry in the state. This trend provides insight into the productivity and growth of a key logistics sector.
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 series tracks the real value added by the warehousing and storage industry in Minnesota, which includes businesses that operate warehousing and storage facilities for general merchandise, refrigerated goods, and other products. It is an important indicator of broader economic activity and supply chain dynamics within the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP by industry accounts.
Historical Context
Policymakers and industry analysts use this metric to monitor the health and competitiveness of Minnesota's logistics infrastructure.
Key Facts
- Minnesota's warehousing and storage industry accounts for 1.8% of the state's GDP.
- The sector employs over 32,000 workers in Minnesota.
- Real GDP in this industry has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted economic output of the warehousing and storage industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and growth of a key logistics sector, which is important for understanding broader economic activity and supply chain dynamics within the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP by industry accounts.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to monitor the health and competitiveness of Minnesota's logistics infrastructure.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Warehousing and Storage (493) in Minnesota (MNWARESTORRGSP), retrieved from FRED.