Real Gross Domestic Product: Machinery Manufacturing (333) in Mississippi
MSMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,499.70
Year-over-Year Change
-18.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Machinery Manufacturing (333) in Mississippi measures the inflation-adjusted economic output of the machinery manufacturing industry in the state. This metric is crucial for understanding the health and competitiveness of Mississippi's manufacturing 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, or inflation-adjusted, value-added output of the machinery manufacturing industry in Mississippi. Machinery manufacturing is a key component of the state's manufacturing base and an important driver of economic growth. Analysts use this data to assess the industry's performance and identify trends that may impact investment, employment, and economic policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is widely used by policymakers, industry analysts, and economic development organizations to monitor the state's manufacturing competitiveness and guide strategic decisions.
Key Facts
- Mississippi's machinery manufacturing industry accounts for over 10% of the state's total GDP.
- The industry employs more than 25,000 workers in the state.
- Real GDP in Mississippi's machinery manufacturing sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, or inflation-adjusted, value-added output of the machinery manufacturing industry in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the health and competitiveness of Mississippi's manufacturing sector, which is a key driver of the state's 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economic development organizations use this indicator to monitor the state's manufacturing competitiveness and guide strategic decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Machinery Manufacturing (333) in Mississippi (MSMACHMANRGSP), retrieved from FRED.