Chain-Type Quantity Index for Real GDP: Construction (23) in Montana
MTCONSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.90
Year-over-Year Change
31.96%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in Montana measures the real output of the construction industry in the state. It provides insights into the health and growth of a key economic 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
This index tracks the quantity of real output generated by the construction industry in Montana. It is an important indicator of economic activity and investment in the state, as construction plays a vital role in driving overall GDP growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Policymakers and analysts use this index to assess the state of Montana's economy and guide economic development strategies.
Key Facts
- Montana's construction industry accounts for nearly 5% of its total GDP.
- The construction index has grown by an average of 2.5% annually over the past decade.
- The index reached a record high in 2021, indicating strong investment in the state's infrastructure and buildings.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or quantity of goods and services produced by the construction industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a critical driver of economic growth, and this index provides valuable insights into the health and activity of this sector in Montana.
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 methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the state of Montana's economy and guide economic development strategies, particularly in the construction and infrastructure sectors.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Construction (23) in Montana (MTCONSTQGSP), retrieved from FRED.