Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Maine
This dataset tracks gross domestic product: durable goods manufacturing (321, 327-339) in maine over time.
Latest Value
4528.20
Year-over-Year Change
10.62%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the Gross Domestic Product (GDP) contribution of the durable goods manufacturing sector in Maine, including industries like wood products, machinery, and transportation equipment. It provides insights into the state's manufacturing activity and economic performance.
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 Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Maine series represents the total value added by the durable goods manufacturing industries in Maine's economy. It is a key indicator of the state's industrial production and competitiveness within the broader U.S. manufacturing landscape.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by state estimates.
Historical Context
Policymakers and business leaders use this trend to assess Maine's manufacturing sector and its contribution to the state's overall economic growth.
Key Facts
- Maine's durable goods manufacturing sector accounts for approximately 10% of the state's total GDP.
- The transportation equipment industry is the largest contributor to Maine's durable goods manufacturing GDP.
- Durable goods manufacturing GDP in Maine has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value added by the durable goods manufacturing industries in Maine's economy, including sectors like wood products, machinery, and transportation equipment.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and competitiveness of Maine's manufacturing sector, which is a key driver of the state's economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by state estimates.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this trend to assess Maine's manufacturing sector and its contribution to the state's overall economic growth, informing decisions on economic development, workforce training, and infrastructure investments.
Q: Are there update delays or limitations?
A: The GDP by state data, including this durable goods manufacturing trend, is typically released on an annual basis with a lag of several months, so the most recent data may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Maine (MEDURMANNQGSP), retrieved from FRED.