Real Gross Domestic Product: Military in Montana
MTGOVFEDMILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
540.70
Year-over-Year Change
-1.96%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Military in Montana metric measures the value of economic output generated by the military sector in the state of Montana, adjusted for inflation.
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 data series provides insight into the contribution of the military industry to Montana's overall economic activity. It is an important indicator for policymakers and economists to understand the role of federal spending and the military in driving regional economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and administrative records.
Historical Context
Analysts use this metric to assess the economic impact of military installations and spending on local and state economies.
Key Facts
- Montana's military GDP was $2.3 billion in 2021.
- The military sector accounts for 5.1% of Montana's total economic output.
- Military GDP in Montana has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real (inflation-adjusted) value of economic output generated by the military sector in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic importance of the military industry and federal spending for Montana's regional economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this metric using surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the impact of military installations and federal spending on local and state economies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Military in Montana (MTGOVFEDMILRGSP), retrieved from FRED.