Gross Domestic Product: Trade (42, 44-45) in Montana
MTTRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,685.20
Year-over-Year Change
93.14%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) of the trade industry, which includes wholesale and retail trade, in the state of Montana. It is an important indicator of economic activity and performance in the state.
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: Trade (42, 44-45) in Montana series represents the total value of goods and services produced by the trade sector, including wholesale and retail trade, in the state's economy. This metric is widely used by economists and policymakers to gauge the overall health and direction of Montana's economy.
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 often monitor this trend to assess the performance of Montana's trade industry and its broader economic implications.
Key Facts
- Montana's trade industry accounts for approximately 20% of its GDP.
- The trade sector has been a consistent driver of economic growth in Montana.
- Wholesale trade makes up a larger share of the state's trade GDP than retail trade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the trade industry, including wholesale and retail trade, in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of economic activity and performance in Montana's trade sector, which is a significant contributor to the state's overall GDP.
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 monitor this trend to assess the performance of Montana's trade industry and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, but there may be occasional delays or revisions due to the nature of economic data collection and reporting.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in Montana (MTTRADENGSP), retrieved from FRED.