Real Gross Domestic Product: Construction (23) in Montana
MTCONSTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,383.90
Year-over-Year Change
-0.56%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Construction (23) in Montana measures the inflation-adjusted value added by the construction industry to the state's overall economic output. This metric is crucial for analyzing the health and growth of Montana's construction sector and its contribution to the broader state 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
The Real Gross Domestic Product: Construction (23) in Montana represents the real, inflation-adjusted value of the construction industry's contribution to the state's gross domestic product. It provides insights into the performance and productivity of the construction sector, which is a key driver of economic activity and investment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates and price deflators.
Historical Context
This metric is widely used by policymakers, economists, and market analysts to assess the construction industry's role in Montana's economic growth and development.
Key Facts
- Montana's construction industry contributed $4.2 billion to the state's GDP in 2021.
- The real GDP of the construction sector in Montana grew by 3.2% in 2021.
- Construction accounts for approximately 6% of Montana's total economic output.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Construction (23) in Montana measures the inflation-adjusted value added by the construction industry to the state's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the performance and productivity of Montana's construction sector, which is a key driver of economic activity and investment in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates and price deflators.
Q: How is this trend used in economic policy?
A: This metric is widely used by policymakers, economists, and market analysts to assess the construction industry's role in Montana's economic growth and development.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to revisions and updates that can affect the timeliness and accuracy of the information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Construction (23) in Montana (MTCONSTRQGSP), retrieved from FRED.