Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Montana
MTNDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,748.10
Year-over-Year Change
31.64%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Montana. It provides insights into the economic performance and productivity of this key 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: Nondurable Goods Manufacturing (311-316, 322-326) in Montana series tracks the inflation-adjusted output of the nondurable goods manufacturing industry, which includes food, beverage, textile, apparel, paper, and chemical production. This metric is used to analyze the relative strength and competitiveness of Montana's manufacturing base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production indices and price deflators.
Historical Context
Policymakers and analysts monitor this trend to understand the broader economic conditions and competitiveness of Montana's manufacturing sector.
Key Facts
- Montana's nondurable manufacturing accounts for over 10% of the state's total GDP.
- This sector has experienced steady growth over the past decade.
- Food and chemical production are the largest contributors to Montana's nondurable manufacturing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Montana, including industries like food, beverage, textile, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and competitiveness of a key industry in Montana, which is important for policymakers and analysts to monitor.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production indices and price deflators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand the broader economic conditions and competitiveness of Montana's manufacturing sector, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, with occasional revisions to prior periods.
Related Trends
All Employees: Government in Montana
MTGOVT
Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Montana
MTMVEHMANQGSP
Gross Domestic Product: Health Care and Social Assistance (62) in Montana
MTHLTHSOCASSNGSP
New Private Housing Units Authorized by Building Permits for Montana
MTBPPRIV
Spliced Business Formations Within Eight Quarters: Total for All NAICS in Montana
BFSBF8QTOTALSAMT
All Employees: Government: Local Government Excluding Educational Services in Montana
SMU30000009093200001
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Montana (MTNDURMANRGSP), retrieved from FRED.