Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Montana
MTFABRMETQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.23
Year-over-Year Change
50.60%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Montana measures the real output of this industry in the state. It is an important indicator of economic activity and productivity in the manufacturing 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 changes in the real (inflation-adjusted) value added by the fabricated metal product manufacturing industry in Montana. It is a measure of the industry's contribution to the state's overall economic output.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price and quantity information.
Historical Context
Policymakers and analysts use this metric to assess the health and performance of Montana's manufacturing economy.
Key Facts
- The index is calculated with 2012 as the base year.
- Montana's fabricated metal manufacturing sector accounts for 3.2% of the state's total GDP.
- The index reached a record high of 108.61 in 2019.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the fabricated metal product manufacturing industry in Montana. It quantifies the industry's contribution to the state's overall economic production.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and competitiveness of Montana's manufacturing sector, which is a key 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 industry-level price and quantity information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and productivity of Montana's manufacturing economy, which informs decisions around economic development, workforce training, and industrial policy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, so there may be a delay in the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Fabricated Metal Product Manufacturing (332) in Montana (MTFABRMETQGSP), retrieved from FRED.