Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Montana
MTAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141.98
Year-over-Year Change
35.16%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Montana measures the real economic output of this industry sector in the state. It is an important indicator for understanding the overall health and trends within Montana's agricultural and natural resource-based 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, inflation-adjusted production volume changes over time for the Agriculture, Forestry, Fishing and Hunting industry in Montana. It is a valuable tool for economists and policymakers to assess the performance and contribution of this crucial sector to the state's GDP and broader economic conditions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This trend is closely monitored by state officials, industry groups, and market analysts to gauge Montana's economic direction and opportunities.
Key Facts
- Montana's agriculture, forestry and fishing industries account for over 10% of state GDP.
- This index has grown by 15% over the past decade, outpacing overall state GDP growth.
- Severe droughts have caused volatility in this index in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted production volume changes over time for the Agriculture, Forestry, Fishing and Hunting industry in Montana.
Q: Why is this trend relevant for users or analysts?
A: It is an important indicator for understanding the overall health and trends within Montana's agricultural and natural resource-based economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state officials, industry groups, and market analysts to gauge Montana's economic direction and opportunities.
Q: Are there update delays or limitations?
A: There may be several months of delay in the latest data becoming available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Montana (MTAGRQGSP), retrieved from FRED.