Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Minnesota
MNMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.82
Year-over-Year Change
14.08%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Minnesota measures the real output of the machinery manufacturing sector in the state. This metric is important for economists and policymakers to assess the health and productivity of a key 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
This index tracks the real, inflation-adjusted output of the machinery manufacturing sector in Minnesota. It provides insights into the productivity and performance of this critical industry, which is a significant contributor to the state's overall economic activity.
Methodology
The data is calculated based on survey information from machinery manufacturing establishments in Minnesota.
Historical Context
This index is used by policymakers and market analysts to understand trends in a key manufacturing industry and its impact on the broader state economy.
Key Facts
- Minnesota is a major hub for machinery manufacturing.
- The sector accounts for over 10% of the state's total economic output.
- The index tracks real, inflation-adjusted production volumes.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the machinery manufacturing sector in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and performance of a key manufacturing industry in the state, which is crucial for understanding broader economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated based on survey information from machinery manufacturing establishments in Minnesota.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this index to understand trends in a critical manufacturing sector and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Minnesota (MNMACHMANQGSP), retrieved from FRED.