Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Maine
This dataset tracks chain-type quantity index for real gdp: durable goods manufacturing (321, 327-339) in maine over time.
Latest Value
122.06
Year-over-Year Change
32.06%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Maine measures the volume of durable goods manufacturing output in the state, an important component of overall economic activity.
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 changes in the real, inflation-adjusted dollar value of durable goods manufacturing production in Maine, encompassing industries like machinery, electronics, and transportation equipment. It provides insights into the health and competitiveness of the state's manufacturing sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methodologies.
Historical Context
Policymakers and analysts use this index to assess the performance and outlook of Maine's economy.
Key Facts
- The index has a base year of 2012.
- Maine's durable goods manufacturing sector accounts for about 10% of the state's GDP.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Maine measures the volume of durable goods manufacturing output in the state, an important component of its overall economic activity.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the health and competitiveness of Maine's manufacturing sector, which is a key driver of the state's economy. It is used by policymakers and analysts to assess the performance and outlook of the state's 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 accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the performance and outlook of Maine's economy, which can inform decisions related to economic development, trade, and other policy areas.
Q: Are there update delays or limitations?
A: The index is published on a quarterly basis with a typical delay of 2-3 months. It may be subject to revisions as more complete data becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in Maine (MEDURMANQGSP), retrieved from FRED.