Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Minnesota
MNDURMANNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37,378.90
Year-over-Year Change
16.20%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Minnesota' series measures the economic output of the durable goods manufacturing sector in the state of Minnesota. This metric is crucial for understanding the health and performance of a key component of the state's economy.
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 series tracks the total GDP contribution from Minnesota's durable goods manufacturing industries, which include sectors like transportation equipment, machinery, and furniture production. Analyzing this data helps economists and policymakers assess the state's industrial base and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This economic indicator provides insight into Minnesota's manufacturing capabilities and is used to inform state-level economic development strategies and policies.
Key Facts
- Minnesota's durable goods manufacturing sector accounts for over 10% of the state's total GDP.
- The durable goods industry employs more than 250,000 workers in Minnesota.
- This metric has shown steady growth over the past decade, indicating the sector's resilience.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) contribution from Minnesota's durable goods manufacturing industries, including sectors like transportation equipment, machinery, and furniture production.
Q: Why is this trend relevant for users or analysts?
A: Analyzing this data helps economists and policymakers assess the health and performance of a key component of Minnesota's industrial base, which is crucial for understanding the state's overall economic competitiveness.
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 methods.
Q: How is this trend used in economic policy?
A: This economic indicator provides insight into Minnesota's manufacturing capabilities and is used to inform state-level economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Minnesota (MNDURMANNQGSP), retrieved from FRED.