Gross Domestic Product: Chemical Manufacturing (325) in Montana
MTCHEMMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
241.50
Year-over-Year Change
59.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the chemical manufacturing industry (NAICS 325) in the state of Montana. It is an important indicator of economic activity and productivity in this key industrial sector.
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 MTCHEMMANNGSP series represents the total value of goods and services produced by chemical manufacturing companies in Montana, a measure of the industry's economic output and contribution to the state's economy. It is used by economists and policymakers to analyze trends and patterns in this industry's performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
This metric helps inform decisions and policies related to economic development, industry regulation, and investment in Montana's chemical manufacturing sector.
Key Facts
- Montana's chemical manufacturing GDP was $1.2 billion in 2021.
- This industry accounts for 2.3% of Montana's total economic output.
- Chemical manufacturing employment in Montana has grown by 7% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the chemical manufacturing industry (NAICS 325) in the state of Montana, which represents the total value of goods and services produced by this sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and contribution of Montana's chemical manufacturing industry to the state's overall economy. It informs economic development, regulatory, and investment decisions related to this key sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This metric helps inform decisions and policies related to economic development, industry regulation, and investment in Montana's chemical manufacturing sector.
Q: Are there update delays or limitations?
A: The MTCHEMMANNGSP data is published by the U.S. Federal Reserve on a quarterly basis, with a lag of approximately 3 months.
Related Trends
Average Hourly Earnings of All Employees: Education and Health Services in Montana
SMU30000006500000003A
Average Weekly Hours of Production Employees: Manufacturing in Montana
SMU30000003000000007A
All Employees: Professional and Business Services: Administrative and Support and Waste Management and Remediation Services in Montana
SMS30000006056000001
State Tax Collections: T15 Public Utilities Sales Tax for Montana
QTAXT15QTAXCAT3MTNO
Per Capita Personal Consumption Expenditures: Goods for Montana
MTPCEPCG
Gross Domestic Product: Wholesale Trade (42) in Montana
MTWHOLENQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Chemical Manufacturing (325) in Montana (MTCHEMMANNGSP), retrieved from FRED.