Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Maryland
MDNMMPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
798.00
Year-over-Year Change
118.21%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Maryland. It provides insight into the productivity and economic contribution of this key 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
Nonmetallic mineral product manufacturing encompasses the production of materials like glass, cement, ceramics, and other non-metal based products. Tracking this industry's GDP helps analysts and policymakers understand Maryland's manufacturing landscape and economic diversification.
Methodology
The data is collected through surveys by the U.S. Bureau of Economic Analysis as part of the regional GDP accounts.
Historical Context
This metric is used to inform economic development strategies and policies that support Maryland's manufacturing base.
Key Facts
- Maryland's nonmetallic mineral manufacturing GDP was $1.2 billion in 2021.
- This industry accounts for 1.4% of Maryland's total GDP.
- GDP in this sector grew by 3.2% from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of this key manufacturing industry provides insights into Maryland's economic productivity and diversification.
Q: How is this data collected or calculated?
A: The data is collected through surveys by the U.S. Bureau of Economic Analysis as part of the regional GDP accounts.
Q: How is this trend used in economic policy?
A: This metric informs economic development strategies and policies that support Maryland's manufacturing base.
Q: Are there update delays or limitations?
A: The data is updated annually with a 1-year lag by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Maryland (MDNMMPMANNGSP), retrieved from FRED.