Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Montana
MTFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47.30
Year-over-Year Change
102.14%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the furniture and related product manufacturing industry in the state of Montana. It provides insight into the performance and contribution of this sector to the state's overall economic activity.
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 Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Montana series tracks the total value of goods and services produced by the furniture and related product manufacturing industry in the state. This data is used by economists and policymakers to analyze the health and trends within this specific manufacturing segment of Montana's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Historical Context
This economic indicator is relevant for understanding the state of Montana's manufacturing sector and can inform policy decisions and investment strategies.
Key Facts
- Montana's furniture manufacturing GDP was $231 million in 2021.
- This sector accounts for 1.2% of Montana's total GDP.
- Furniture manufacturing GDP in Montana has grown by 4.3% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the furniture and related product manufacturing industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the performance and contribution of the furniture manufacturing sector to Montana's overall economic activity, which is useful for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This economic indicator can inform policy decisions and investment strategies related to Montana's manufacturing sector and overall economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Montana (MTFURNMANNGSP), retrieved from FRED.