Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Montana
MTCHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
229.31
Year-over-Year Change
11.46%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Montana measures the real output of the chemical manufacturing industry in Montana, adjusting for price changes over time.
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 provides a measure of the real economic activity in Montana's chemical manufacturing sector, allowing economists and policymakers to track trends and make informed decisions about this important industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric is used to analyze the performance and competitiveness of Montana's chemical manufacturing industry relative to other states and the national economy.
Key Facts
- Montana's chemical manufacturing industry accounts for over 5% of the state's total GDP.
- The index has increased by 20% over the past decade, indicating growth in the sector.
- Chemical manufacturing is a key driver of employment and investment in Montana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output of the chemical manufacturing industry in Montana, adjusting for price changes over time.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and competitiveness of Montana's chemical manufacturing sector, which is an important driver of the state's 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: Policymakers and analysts use this trend to assess the health and growth of Montana's chemical manufacturing industry, which informs decisions about economic development, trade, and industrial policies.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Montana (MTCHEMMANQGSP), retrieved from FRED.