Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Utah
UTNMMPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,049.40
Year-over-Year Change
89.46%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) from the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Utah. It provides important insights into a key segment of Utah'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 nonmetallic mineral product manufacturing industry encompasses the production of items like glass, cement, ceramics, and other non-metal-based goods. Tracking this industry's GDP contribution helps economists and policymakers understand Utah's manufacturing and industrial landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
This metric is used to inform economic policy decisions and analyze market trends in Utah.
Key Facts
- Utah's nonmetallic mineral manufacturing GDP was $1.6 billion in 2021.
- This industry accounts for 1.2% of Utah's total GDP.
- The sector has seen 3.5% average annual growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) generated by the nonmetallic mineral product manufacturing industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: Tracking this industry's GDP helps economists and policymakers understand a key segment of Utah's manufacturing and industrial economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This metric is used to inform economic policy decisions and analyze market trends in Utah.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 3-6 months after the end of each quarter.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Utah (UTNMMPMANNGSP), retrieved from FRED.