Gross Domestic Product: Construction (23) in Montana
MTCONSTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,206.70
Year-over-Year Change
25.31%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Construction (23) in Montana measures the economic output of the construction industry in the state. This metric is closely watched by economists and policymakers to assess the health of the state's construction sector and broader economic conditions.
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 Gross Domestic Product: Construction (23) in Montana provides a quantitative measure of the value of goods and services produced by the construction industry in the state. This data is used to analyze trends in construction activity, investment, and the overall economic performance of the Montana construction sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
This economic trend is relevant for understanding the role of construction in Montana's economy and informing policies that impact the construction industry.
Key Facts
- Montana's construction GDP was $4.1 billion in 2021.
- The construction sector accounts for 5.2% of Montana's total GDP.
- Construction GDP in Montana has grown by 3.8% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Construction (23) in Montana measures the total economic output of the construction industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and performance of Montana's construction sector, which is a key driver of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the construction industry's contribution to Montana's economy and inform decisions that impact the construction sector.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Construction (23) in Montana (MTCONSTNQGSP), retrieved from FRED.