Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Montana
MTDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.38
Year-over-Year Change
35.29%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Montana measures the real output of the durable goods manufacturing sector in the state. This indicator provides insight into the state's economic performance and industrial production.
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 gross domestic product (GDP) from the durable goods manufacturing industries in Montana, including subsectors such as fabricated metal products, machinery, and transportation equipment. It is a key metric for analyzing the state's industrial activity and economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production and price information.
Historical Context
This trend is used by policymakers, economists, and businesses to assess the health and competitiveness of Montana's manufacturing sector.
Key Facts
- Montana's durable goods manufacturing sector accounts for over 10% of the state's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Durable goods manufacturing is a major employer in Montana, with over 25,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quantity of real gross domestic product (GDP) from the durable goods manufacturing industries in Montana, including sectors like fabricated metals and transportation equipment.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the performance and competitiveness of Montana'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 industry-level production and price information.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this trend to assess the health and growth of Montana's manufacturing industries, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2 months, so there may be some delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Montana (MTDURMANQGSP), retrieved from FRED.