Gross Domestic Product: Miscellaneous Manufacturing (339) in Maine
MEMISCMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
278.00
Year-over-Year Change
138.22%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the miscellaneous manufacturing industry (NAICS 339) in the state of Maine. It is an important indicator of economic activity and productivity in 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
The Gross Domestic Product: Miscellaneous Manufacturing (339) in Maine metric tracks the total economic output of establishments in Maine engaged in a variety of manufacturing activities not classified elsewhere, such as medical equipment, sporting goods, office supplies, and more. This data provides insights into the health and competitiveness of Maine's diverse manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists closely monitor this trend to assess the overall performance and competitiveness of Maine's manufacturing sector.
Key Facts
- Maine's miscellaneous manufacturing sector accounts for over 10% of the state's total GDP.
- This industry has seen 3% annual growth on average over the past decade.
- Miscellaneous manufacturing supports over 20,000 jobs in Maine.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total economic output of miscellaneous manufacturing establishments in the state of Maine, which includes a diverse range of products like medical equipment, sporting goods, office supplies, and more.
Q: Why is this trend relevant for users or analysts?
A: The performance of Maine's miscellaneous manufacturing sector is an important indicator of the state's overall economic health and competitiveness. Monitoring this trend provides insights that can inform policy decisions and business strategies.
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: Policymakers and economists closely monitor this trend to assess the overall performance and competitiveness of Maine's manufacturing base, which is crucial for supporting economic growth and employment in the state.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, but it provides a reliable and comprehensive measure of economic activity in Maine's miscellaneous manufacturing industry.
Related Trends
Gross Domestic Product: Air Transportation (481) in Maine
MEAIRTRANNGSP
Gross Domestic Product: Accommodation and Food Services (72) in Maine
MEACCOMDNQGSP
Gross Domestic Product: Construction (23) in Maine
MECONSTNGSP
Average Hourly Earnings of All Employees: Private Service Providing in Maine
SMU23000000800000003
Real Per Capita Personal Income for Maine
MERPIPC
Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Maine
MEEDHLTHSOCASSRGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Miscellaneous Manufacturing (339) in Maine (MEMISCMANNGSP), retrieved from FRED.