Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Montana
MTNMMPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.94
Year-over-Year Change
50.74%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Montana measures the volume of economic activity in this industry and region. It is a key indicator for analyzing the state's economic performance and trends.
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 real output of nonmetallic mineral product manufacturing in Montana, which includes industries like glass, cement, and ceramic product production. It is a component of the broader GDP data and provides insight into a critical manufacturing sector for the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and sales information.
Historical Context
Policymakers and analysts use this index to monitor the health of Montana's manufacturing industry and its broader economic conditions.
Key Facts
- Montana's nonmetallic mineral product manufacturing accounts for over 5% of the state's GDP.
- This index has seen steady growth over the past decade, indicating a strengthening sector.
- The index reached an all-time high in 2021, reflecting the industry's resilience during the pandemic.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of the nonmetallic mineral product manufacturing industry in Montana.
Q: Why is this trend relevant for users or analysts?
A: It provides valuable insight into the performance and economic contribution of a key manufacturing sector in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and sales information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the health of Montana's manufacturing industry and its broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Montana (MTNMMPMANQGSP), retrieved from FRED.