Real Gross Domestic Product: Private Goods-Producing Industries in Missouri
MOPRIGOODPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61,554.30
Year-over-Year Change
19.19%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Private Goods-Producing Industries in Missouri measures the inflation-adjusted economic output of the private goods-producing sector in the state of Missouri. This metric is important for analyzing regional economic trends and informing policymakers.
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 represents the real (inflation-adjusted) value added by the private goods-producing industries in Missouri's economy, including manufacturing, mining, and construction. It is a key indicator of the state's industrial activity and economic health.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this metric to assess the performance and competitiveness of Missouri's manufacturing and industrial base.
Key Facts
- Missouri's private goods-producing industries account for over a quarter of the state's total GDP.
- This metric has declined by 5% since the start of the COVID-19 pandemic.
- Manufacturing is the largest component of Missouri's private goods-producing sector.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted value added by Missouri's private goods-producing industries, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the performance and competitiveness of Missouri's industrial base, which is crucial for understanding the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Missouri's manufacturing and industrial sectors, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month delay in the release of this data, and the figures may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Goods-Producing Industries in Missouri (MOPRIGOODPRORGSP), retrieved from FRED.