Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maryland
MDELCEQAPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77.54
Year-over-Year Change
-4.37%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maryland measures the inflation-adjusted output of this industry in the state. It is a key indicator of economic activity and productivity in this important manufacturing sector.
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 index tracks the volume of real GDP, or inflation-adjusted economic output, for the electrical equipment, appliance, and component manufacturing industry in Maryland. It is used by economists and policymakers to assess trends in industrial production and competitiveness within this segment of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of manufacturers.
Historical Context
Trends in this index can inform policy decisions related to trade, labor, and investment in Maryland's electrical equipment manufacturing industry.
Key Facts
- This index uses 2012 as the base year.
- Electrical equipment manufacturing accounts for over 5% of Maryland's total GDP.
- The index reached an all-time high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output or real GDP of the electrical equipment, appliance, and component manufacturing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide insights into the productivity and competitiveness of a key manufacturing sector in Maryland's economy, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of manufacturers in this industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health and competitiveness of Maryland's electrical equipment manufacturing industry, which can inform decisions related to trade, labor, and investment in this sector.
Q: Are there update delays or limitations?
A: The index is updated quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maryland (MDELCEQAPMANQGSP), retrieved from FRED.