Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Montana
MTMACHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
172.34
Year-over-Year Change
-11.88%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Montana measures the inflation-adjusted output of the machinery manufacturing industry in the state. This indicator provides insights into the health and productivity of this key economic 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
The Chain-Type Quantity Index tracks changes in the real, or inflation-adjusted, value of goods and services produced by the machinery manufacturing industry in Montana. This metric is used by economists and policymakers to analyze trends in industrial activity and inform decisions related to economic development, trade, and investment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using production, sales, and other industry-level information.
Historical Context
Monitoring this index helps inform assessments of the state's manufacturing competitiveness and the broader economic conditions affecting businesses and consumers.
Key Facts
- Montana's machinery manufacturing industry accounts for over 10% of the state's total GDP.
- The index has shown steady growth in real output over the past decade.
- Machinery manufacturing is a key driver of exports and employment in Montana.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Montana measures the inflation-adjusted output of the machinery manufacturing industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and productivity of a key economic sector in Montana, informing analyses of industrial activity, trade, and investment.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using production, sales, and other industry-level information.
Q: How is this trend used in economic policy?
A: Monitoring this index helps inform assessments of the state's manufacturing competitiveness and the broader economic conditions affecting businesses and consumers.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Montana (MTMACHMANQGSP), retrieved from FRED.