Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Maine
MEMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.33
Year-over-Year Change
-23.40%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Maine measures the volume of economic output in the machinery manufacturing sector in the state of Maine. This index is a key indicator of productivity and economic health in the state's industrial base.
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 Chain-Type Quantity Index tracks changes in the real, inflation-adjusted value of goods produced by the machinery manufacturing industry in Maine. It provides insight into the state's manufacturing capabilities and capacity utilization over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Historical Context
Policymakers and economists use this index to assess the performance and competitiveness of Maine's machinery manufacturing sector.
Key Facts
- Maine is a major hub for machinery manufacturing in the Northeast U.S.
- The index has shown steady growth in recent years, indicating a healthy industrial sector.
- Machinery production is a key driver of Maine's overall economic output.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Maine measures the real, inflation-adjusted value of goods produced by the machinery manufacturing industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and competitiveness of Maine's manufacturing sector, which is a critical component 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 production and pricing information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health and productivity of Maine's machinery manufacturing industry, which informs decisions around economic development and industrial policy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of several months, so there may be delays in observing the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Maine (MEMACHMANQGSP), retrieved from FRED.