Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Montana
MTFRSTFISHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.61
Year-over-Year Change
61.14%
Date Range
1/1/1997 - 1/1/2023
Summary
This index measures the chain-type quantity index for real GDP in the forestry, fishing, and related activities sector in Montana. It is a key indicator of economic activity and productivity in this important industry for the state.
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 chain-type quantity index for real GDP in the forestry, fishing, and related activities sector is used to track inflation-adjusted output growth in this industry within Montana's economy. It provides insights into the productivity and competitiveness of this vital natural resource sector.
Methodology
This index is calculated by the U.S. Bureau of Economic Analysis using data on production, prices, and other economic indicators.
Historical Context
Policymakers and industry analysts monitor this index to gauge the health and trajectory of Montana's forestry and fishing sectors.
Key Facts
- Montana is a major producer of timber and seafood products.
- This index tracks real output growth in a key part of the state's economy.
- Forestry and fishing contribute significantly to Montana's GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the chain-type quantity, or real, GDP for the forestry, fishing, and related activities sector in Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and competitiveness of a vital natural resource industry in Montana's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this index using data on production, prices, and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this index to gauge the health and trajectory of Montana's forestry and fishing sectors.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and publication for this index due to the nature of economic data collection.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Montana (MTFRSTFISHQGSP), retrieved from FRED.