Real Gross Domestic Product: Construction (23) in Minnesota
Annual, Not Seasonally Adjusted
MNCONSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,324.40
Year-over-Year Change
35.90%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the nominal value of gross state product (GSP) in the manufacturing sector of the U.S. economy. This provides insight into the overall health and productivity of the manufacturing industry.
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 Annual, Not Seasonally Adjusted series for Manufacturing GSP tracks the total economic output of the manufacturing sector across all U.S. states on an annual basis. It is a key indicator used by economists and policymakers to assess the performance and competitiveness of the manufacturing industry.
Methodology
The data is collected through the Bureau of Economic Analysis's comprehensive surveys of economic activity.
Historical Context
Manufacturing GSP is closely monitored by government agencies and market analysts to inform economic and industrial policies.
Key Facts
- Manufacturing GSP accounts for over 11% of total U.S. economic output.
- The U.S. manufacturing sector has seen steady growth in recent years.
- Trends in manufacturing GSP are a leading indicator of broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series for Manufacturing GSP tracks the total economic output of the manufacturing sector across all U.S. states on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: Manufacturing GSP is a key indicator used by economists and policymakers to assess the performance and competitiveness of the manufacturing industry, which is a crucial driver of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through the Bureau of Economic Analysis's comprehensive surveys of economic activity.
Q: How is this trend used in economic policy?
A: Manufacturing GSP is closely monitored by government agencies and market analysts to inform economic and industrial policies.
Q: Are there update delays or limitations?
A: The Annual, Not Seasonally Adjusted series for Manufacturing GSP is released on a timely basis, with minimal delays, providing a reliable snapshot of the manufacturing sector's economic output.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MNCONSTRGSP), retrieved from FRED.