Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Maryland
MDDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,699.60
Year-over-Year Change
2.58%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the durable goods manufacturing sector in Maryland. It provides insights into the production and economic activity within this key industry.
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 Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Maryland trend represents the inflation-adjusted value added by the durable goods manufacturing industry to the state's overall economic output. This metric is used by economists and policymakers to analyze the performance and competitiveness of Maryland's manufacturing sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methodologies.
Historical Context
Trends in durable goods manufacturing GDP are closely monitored as they can signal changes in business investment, consumer demand, and broader economic conditions.
Key Facts
- Maryland's durable goods manufacturing sector accounts for over 10% of the state's GDP.
- This industry has seen steady growth in recent years, outpacing the national average.
- Durable goods production is a key driver of Maryland's economy and employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the durable goods manufacturing sector in the state of Maryland. It provides an indication of the production and economic activity within this key industry.
Q: Why is this trend relevant for users or analysts?
A: Trends in durable goods manufacturing GDP are closely monitored as they can signal changes in business investment, consumer demand, and broader economic conditions within Maryland.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the performance and competitiveness of Maryland's manufacturing sector, which is a crucial driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Maryland (MDDURMANRQGSP), retrieved from FRED.