Real Gross Domestic Product: Manufacturing (31-33) in Missouri
MOMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42,591.60
Year-over-Year Change
14.01%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Manufacturing (31-33) in Missouri measures the inflation-adjusted output of the manufacturing sector in the state of Missouri. This metric is a key indicator of economic health 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 series tracks the real, or inflation-adjusted, value added by the manufacturing industry in Missouri. It provides insights into the performance and competitiveness of the state's critical manufacturing base, which has significant implications for employment, investment, and overall economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Policymakers and analysts use this metric to assess the competitive position of Missouri's manufacturing sector and inform decisions around economic development, trade, and workforce policies.
Key Facts
- Missouri's manufacturing sector accounts for over 12% of the state's GDP.
- Manufacturing employment in Missouri has declined by 8% since 2010.
- The state's manufacturing productivity has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted value added by the manufacturing industry in the state of Missouri. It provides insights into the performance and competitiveness of this critical sector of the state's economy.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing industry is a key driver of economic growth and employment in Missouri. Tracking the real output of this sector helps policymakers and analysts assess the state's competitive position and inform decisions around economic development, trade, and workforce policies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures for the state of Missouri.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the performance and competitiveness of Missouri's manufacturing sector, which informs decisions around economic development, trade, and workforce policies aimed at supporting this critical industry.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a delay in accessing the most recent figures. Additionally, the data is subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Manufacturing (31-33) in Missouri (MOMANRGSP), retrieved from FRED.