Real Gross Domestic Product: Primary Metal Manufacturing (331) in Minnesota
MNPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
779.80
Year-over-Year Change
82.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the primary metal manufacturing industry in Minnesota. It provides insights into the performance and economic contribution of this key manufacturing sector in the state.
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 Real Gross Domestic Product: Primary Metal Manufacturing (331) in Minnesota series tracks the inflation-adjusted economic output of the primary metal manufacturing industry in the state. This metric is used by economists and policymakers to analyze the health and competitiveness of Minnesota's industrial base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using various economic indicators and industry-specific production statistics.
Historical Context
Trends in this series are monitored by state and federal agencies to inform economic development policies and investment decisions.
Key Facts
- Primary metal manufacturing is a significant industry in Minnesota.
- The state's primary metal output has seen modest growth in recent years.
- This series provides a valuable indicator of the industry's economic performance.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the primary metal manufacturing industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric is used by economists and policymakers to analyze the health and competitiveness of Minnesota's industrial base and inform economic development strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using various economic indicators and industry-specific production statistics.
Q: How is this trend used in economic policy?
A: Trends in this series are monitored by state and federal agencies to inform economic development policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the source agency.
Related Trends
Total Carbon Dioxide Emissions From All Sectors, Coal for Minnesota
EMISSCO2TOTVTTCOMNA
Pandemic Emergency Unemployment Compensation Continued Claims in Minnesota
PEUCCCMN
Durable Manufacturing Wages and Salaries in Minnesota
MNWDUR
Forestry, Fishing, Related Activities, and Other Earnings in Minnesota
MNEFOR
Real Gross Domestic Product: Wholesale Trade (42) in Minnesota
MNWHOLERQGSP
Average Weekly Hours of All Employees: Leisure and Hospitality in Minnesota
SMU27000007000000002A
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in Minnesota (MNPRIMETMANRGSP), retrieved from FRED.