Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Maryland
MDMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.62
Year-over-Year Change
-17.72%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Maryland measures the real output of the machinery manufacturing sector in the state. This metric is important for economists and policymakers to understand trends in a key manufacturing 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
This index tracks the real, inflation-adjusted quantity of goods produced by machinery manufacturers in Maryland. It provides insight into the productivity and economic health of this critical manufacturing subsector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
Analysts and policymakers use this metric to gauge the performance of Maryland's manufacturing economy.
Key Facts
- Maryland's machinery manufacturing sector accounts for over 10% of the state's total GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Machinery production is a key driver of Maryland's export economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods produced by the machinery manufacturing sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and economic health of a critical manufacturing industry within the Maryland economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to gauge the performance of Maryland's manufacturing economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
Related Trends
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Chain-Type Quantity Index for Real GDP: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Maryland
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Maryland (MDMACHMANQGSP), retrieved from FRED.