Real Gross Domestic Product: Warehousing and Storage (493) in Montana
MTWARESTORRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.70
Year-over-Year Change
24.63%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Warehousing and Storage (493) in Montana measures the economic output of the warehousing and storage industry in the state. This metric is important for understanding trends in logistics, supply chain management, and the broader state 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
This series tracks the real, inflation-adjusted GDP contribution of the warehousing and storage industry (NAICS code 493) in the state of Montana. It provides insight into the productivity and growth of this key economic sector, which supports supply chains and logistics networks.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using establishment surveys and other sources.
Historical Context
Policymakers and businesses use this trend to assess the health and competitiveness of Montana's logistics infrastructure and support industries.
Key Facts
- Montana's warehousing and storage GDP was $1.1 billion in 2021.
- This industry accounts for 2.1% of Montana's total economic output.
- Real warehousing GDP in Montana grew by 3.7% from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) contribution of the warehousing and storage industry (NAICS code 493) in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and growth of Montana's logistics infrastructure, which is crucial for supporting supply chains and economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using establishment surveys and other sources.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this trend to assess the health and competitiveness of Montana's logistics industry and support informed decisions about infrastructure investment and economic development.
Q: Are there update delays or limitations?
A: This data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Warehousing and Storage (493) in Montana (MTWARESTORRGSP), retrieved from FRED.