Real Gross Domestic Product: Private Goods-Producing Industries in Montana
MTPRIGOODPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,019.90
Year-over-Year Change
20.71%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Private Goods-Producing Industries in Montana' series measures the inflation-adjusted output of Montana's private goods-producing industries, providing insights into the state's economic performance.
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 series represents the real (inflation-adjusted) gross domestic product generated by Montana's private goods-producing industries, which include manufacturing, construction, agriculture, forestry, fishing, and mining. It is a key indicator of the state's industrial output and economic health.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to evaluate Montana's economic conditions and guide decision-making.
Key Facts
- Montana's private goods-producing industries account for a significant portion of the state's economic output.
- The trend has shown fluctuations over time, reflecting changes in the state's industrial activity.
- Monitoring this series can help identify emerging trends and challenges in Montana's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) generated by Montana's private goods-producing industries, including manufacturing, construction, agriculture, and mining.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and underlying economic conditions of Montana's industrial sector, which is a crucial component of the state's 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 national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Montana's economic conditions and guide decision-making, such as in the allocation of resources and the development of economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to regular updates by the U.S. Bureau of Economic Analysis, but there may be occasional delays or revisions due to the comprehensive nature of the national accounts data.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Goods-Producing Industries in Montana (MTPRIGOODPRORGSP), retrieved from FRED.