Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Maryland
MDNDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.25
Year-over-Year Change
27.45%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing in Maryland measures the real output of the nondurable goods manufacturing sector in the state. This metric is important for economists and policymakers to assess the health and productivity of a key component of the state's economy.
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, inflation-adjusted production for nondurable goods manufacturers in Maryland, including industries like food, beverage, textile, and paper production. It provides insights into the state's industrial activity and competitiveness.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing firms.
Historical Context
Policymakers and analysts use this index to monitor trends in Maryland's manufacturing sector and inform economic development strategies.
Key Facts
- Maryland's nondurable goods manufacturing sector accounts for over 10% of the state's GDP.
- The index has shown steady growth over the past decade, indicating the sector's resilience.
- Nondurable goods manufacturing employs nearly 100,000 workers in Maryland.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing in Maryland measures the real, inflation-adjusted output of the nondurable goods manufacturing sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the health and productivity of a key component of Maryland's economy, informing economic development strategies and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing firms in Maryland.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor trends in Maryland's manufacturing sector and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Maryland (MDNDURMANQGSP), retrieved from FRED.