Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Mississippi
MSPRIMETMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
266.01
Year-over-Year Change
232.78%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Mississippi measures the volume of economic output in this key industrial sector and region. It provides insights into the state's manufacturing production and competitiveness.
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 quantity of real, inflation-adjusted gross domestic product (GDP) originating from the primary metal manufacturing industry in Mississippi. 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 a chain-weighted methodology.
Historical Context
This index is widely used by economists, policymakers, and market analysts to assess Mississippi's manufacturing performance and competitiveness.
Key Facts
- Mississippi is a leading producer of primary metals in the U.S.
- The state's primary metal manufacturing industry accounts for a significant share of its GDP.
- Trends in this index can signal broader changes in Mississippi's industrial base.
FAQs
Q: What does this economic trend measure?
A: This index measures the quantity or volume of real GDP originating from the primary metal manufacturing industry in Mississippi.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the performance and competitiveness of a key manufacturing sector in the state, which is important for assessing Mississippi's overall economic health and industrial base.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to track real, inflation-adjusted GDP.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this index to evaluate Mississippi's manufacturing prowess and competitiveness, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the index is updated periodically by the statistical agencies compiling the underlying economic data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Mississippi (MSPRIMETMANQGSP), retrieved from FRED.