Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Mississippi
MSNDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.42
Year-over-Year Change
-4.98%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Mississippi measures the volume of production in this key economic sector over time. It provides important insights into the state's manufacturing activity and broader economic trends.
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 nondurable goods manufacturing industries in Mississippi, such as food, beverage, textile, and chemical production. It is a valuable indicator of the state's industrial performance and competitiveness within the broader U.S. economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Historical Context
Policymakers and analysts use this index to assess the health and growth potential of Mississippi's manufacturing base and its contribution to the state's overall economic output.
Key Facts
- Mississippi's nondurable goods manufacturing accounts for over 10% of the state's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Food and chemical production are the largest components of this index.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) output of nondurable goods manufacturing industries in the state of Mississippi, including food, beverage, textile, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the health and competitiveness of Mississippi's manufacturing sector, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using production and pricing information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the growth potential of Mississippi's manufacturing base and its contribution to the state's overall economic output, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-month lag between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Mississippi (MSNDURMANQGSP), retrieved from FRED.