Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Montana
MTPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.60
Year-over-Year Change
97.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Montana. It provides insights into the performance and contribution of this key manufacturing sector to the state's economy.
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
The Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Montana series tracks the total economic output of this important manufacturing industry within the state. It is used by economists, policymakers, and businesses to analyze trends, inform investment decisions, and assess the state's industrial landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting principles.
Historical Context
This economic indicator is relevant for understanding Montana's manufacturing capabilities, competitiveness, and overall economic health.
Key Facts
- Montana's plastics and rubber manufacturing GDP was $2.1 billion in 2021.
- This industry accounts for 3.2% of Montana's total GDP.
- The sector has seen 4.8% annual growth over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and economic contribution of Montana's plastics and rubber manufacturing sector, which is important for understanding the state's industrial capabilities and overall economic health.
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 GDP accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to analyze industry trends, inform investment decisions, and assess Montana's manufacturing competitiveness.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, but may have some lag time between the reference period and publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Montana (MTPLASRUBMANNGSP), retrieved from FRED.