Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Montana
MTFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
347.10
Year-over-Year Change
61.14%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in Montana. It provides insights into the economic performance and productivity of this important industry in 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 Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Montana series tracks the inflation-adjusted economic output of the forestry, fishing, and related activities industry in the state. This data is used by economists and policymakers to analyze the contribution of this sector to Montana's overall economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is relevant for understanding the health and competitiveness of Montana's natural resource-based industries and informing policy decisions that impact the state's economic development.
Key Facts
- Montana's forestry and fishing industries contribute significantly to the state's economy.
- This trend has shown steady growth over the past decade, indicating the sector's resilience.
- Policymakers use this data to evaluate the impact of regulations and investments in the natural resource sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and productivity of an important industry in Montana, which is relevant for understanding the state's overall economic development and informing policy decisions.
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 principles.
Q: How is this trend used in economic policy?
A: Policymakers use this data to evaluate the impact of regulations and investments in Montana's natural resource-based industries, which are critical to the state's economic development.
Q: Are there update delays or limitations?
A: There may be some delays in the data updates, as the information is collected and processed by the federal statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Montana (MTFRSTFISHRGSP), retrieved from FRED.