Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maryland
MDELCEQAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151.40
Year-over-Year Change
-4.42%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry in the state of Maryland. It provides insights into the productivity and economic output of 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
The Real Gross Domestic Product (GDP) for Electrical Equipment, Appliance, and Component Manufacturing (NAICS 335) in Maryland tracks the inflation-adjusted economic output of this industry within the state. It is a key indicator of the industry's productivity and competitiveness over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Maryland's electrical equipment manufacturing sector.
Key Facts
- The electrical equipment manufacturing industry accounts for over 10% of Maryland's total manufacturing GDP.
- Real GDP in this sector grew by 4.2% in 2021 compared to the prior year.
- Maryland's electrical equipment manufacturing productivity is 15% above the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and economic output of Maryland's electrical equipment manufacturing sector, which is an important driver of the state's economy.
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 methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Maryland's electrical equipment manufacturing sector.
Q: Are there update delays or limitations?
A: The data is subject to revisions and may have some time lags in reporting, but it provides a reliable measure of real GDP for this industry in Maryland.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maryland (MDELCEQAPMANRGSP), retrieved from FRED.