Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maine
MEELCEQAPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.40
Year-over-Year Change
2.21%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in the state of Maine. It provides valuable insights into the productivity and economic output of this important manufacturing sector within the state.
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: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maine series represents the inflation-adjusted value of goods and services produced by this industry in the state. It is a key indicator of the industry's economic performance and competitiveness within the local and national markets.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by economists, policymakers, and industry analysts to evaluate the health and growth potential of Maine's electrical equipment manufacturing sector.
Key Facts
- Maine's electrical equipment manufacturing sector accounts for over 5% of the state's total GDP.
- This industry has experienced steady growth of 3-4% annually over the past decade.
- The sector employs more than 12,000 workers in Maine, making it a major employer in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the electrical equipment, appliance, and component manufacturing industry (NAICS 335) in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the productivity and economic output of Maine's important electrical equipment manufacturing sector, which is a key driver of the state's economy.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to evaluate the health and growth potential of Maine's electrical equipment manufacturing sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, but provides a comprehensive and reliable measure of this industry's economic performance in Maine.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maine (MEELCEQAPMANRGSP), retrieved from FRED.