Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Minnesota
MNFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.30
Year-over-Year Change
19.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the food, beverage, and tobacco product manufacturing sector in Minnesota. It provides insights into the productivity and output growth in this key 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 chain-type quantity index tracks changes in the real, inflation-adjusted value of goods produced by Minnesota's food, beverage, and tobacco manufacturers over time. This metric is used by economists and policymakers to analyze trends in industrial production and economic growth within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Historical Context
This index offers important context for understanding Minnesota's overall economic performance and the health of its manufacturing base.
Key Facts
- The index uses 2012 as the base year.
- Food and beverage manufacturing is a major component of Minnesota's economy.
- The index has shown modest growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in the real, inflation-adjusted value of goods produced by Minnesota's food, beverage, and tobacco manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and output growth of a key industry within Minnesota'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 a chain-weighted approach.
Q: How is this trend used in economic policy?
A: This index offers context for understanding Minnesota's overall economic performance and the health of its manufacturing base, which is relevant for policymakers and analysts.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, but may have a short delay compared to the current reporting period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Minnesota (MNFOODBEVTOBMANQGSP), retrieved from FRED.