Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Mississippi
MSMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.09
Year-over-Year Change
7.63%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Mississippi measures the inflation-adjusted output of the manufacturing sector in the state. This metric is crucial for evaluating the overall health and productivity of Mississippi'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 index tracks the real volume of goods and services produced by the manufacturing industry in Mississippi. It is an important gauge of economic activity, as manufacturing is a key driver of the state's GDP and employment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted index approach.
Historical Context
Policymakers and analysts use this index to assess the performance of Mississippi's manufacturing sector and its broader economic trends.
Key Facts
- Mississippi's manufacturing sector accounts for over 15% of the state's GDP.
- The Chain-Type Quantity Index uses 2012 as the base year.
- Manufacturing is the second-largest private industry employer in Mississippi.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Mississippi measures the inflation-adjusted output of the manufacturing sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating the overall health and productivity of Mississippi's economy, as manufacturing is a key driver of the state's GDP and employment.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted index approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the performance of Mississippi's manufacturing sector and its broader economic trends.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the source agency, the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Mississippi (MSMANQGSP), retrieved from FRED.