Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Minnesota
MNTEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.48
Year-over-Year Change
15.11%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Minnesota measures the real output of this industry 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
This index tracks the production volume of textile manufacturers in Minnesota, providing insight into the health and competitiveness of this important industry in the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Historical Context
Economists and policymakers monitor this metric to assess the performance of Minnesota's manufacturing sector.
Key Facts
- Minnesota is a major textile manufacturing hub in the U.S.
- This index has a base year of 2012 = 100.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of textile mills and textile product mills in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: The performance of Minnesota's textile manufacturing industry provides important insights into the state's overall economic health and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess the performance of Minnesota's manufacturing sector and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly 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: Textile Mills and Textile Product Mills (313-314) in Minnesota (MNTEXTQGSP), retrieved from FRED.