Real Gross Domestic Product: Manufacturing (31-33) in Maryland
MDMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,375.90
Year-over-Year Change
5.81%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the manufacturing sector in the state of Maryland. It provides valuable insights into the health and performance of the state's manufacturing industry, which is a key driver of economic growth.
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: Manufacturing (31-33) in Maryland series tracks the inflation-adjusted output of the manufacturing sector in the state. It is an important indicator of the state's economic conditions and can be used to analyze the performance of the manufacturing industry and its contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is widely used by policymakers, economists, and market analysts to evaluate the strength of Maryland's manufacturing sector and its impact on the state's economic growth.
Key Facts
- Maryland's manufacturing sector accounts for over 5% of the state's GDP.
- The manufacturing industry employs more than 100,000 workers in Maryland.
- Real GDP in Maryland's manufacturing sector has grown by 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the manufacturing sector in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: The manufacturing industry is a critical component of Maryland's economy, and this trend provides valuable insights into the performance and health of this sector, which is important for policymakers, economists, and market analysts.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and market analysts to evaluate the strength of Maryland's manufacturing sector and its impact on the state's economic growth, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a moderate delay of several months. There may also be revisions to previous data points as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Manufacturing (31-33) in Maryland (MDMANRQGSP), retrieved from FRED.