Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Missouri
MODURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.87
Year-over-Year Change
26.66%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Missouri measures the volume of durable goods manufacturing output in the state, providing insight into economic activity and production trends.
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 output of Missouri's durable goods manufacturing sector, which includes industries like machinery, transportation equipment, and furniture production. It is a key indicator for economists and policymakers assessing the state's industrial performance and overall economic health.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This trend is widely used to monitor the manufacturing industry's contribution to Missouri's GDP and inform economic policies and business decisions.
Key Facts
- Missouri's durable goods manufacturing accounts for over 10% of the state's GDP.
- The index has risen by 25% since 2010, indicating growing industrial output.
- Durable goods production is a key driver of economic growth in the Midwest region.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Missouri measures the real, inflation-adjusted output of the state's durable goods manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and contribution of Missouri's manufacturing industry to the state's overall economic activity, making it a key indicator for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: This manufacturing output index is widely used to monitor the state's industrial sector and inform economic policies, as well as business decisions related to investment, hiring, and production planning.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Missouri (MODURMANQGSP), retrieved from FRED.