Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Montana
MTNDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,742.70
Year-over-Year Change
15.67%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Montana measures the inflation-adjusted output of the nondurable goods manufacturing sector in the state. This key economic indicator provides insights into the health and productivity of an important segment of Montana's economy.
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
This metric represents the real value added by nondurable goods manufacturing establishments, such as food, beverage, textile, and chemical manufacturers, located in Montana. It is used to analyze trends in industrial production, economic growth, and the competitive position of the state's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
Policymakers and analysts monitor this indicator to assess the performance of Montana's manufacturing sector and its contribution to the state's overall economic activity.
Key Facts
- Montana's nondurable goods manufacturing sector accounts for approximately 7% of the state's GDP.
- This indicator has shown steady growth over the past decade, reflecting the resilience of the state's manufacturing base.
- Food and beverage manufacturing is the largest component of Montana's nondurable goods industry.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted output of the nondurable goods manufacturing sector in the state of Montana, including industries such as food, beverage, textile, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the performance and productivity of an important segment of Montana's economy, which is crucial for understanding the state's overall economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to assess the health and competitiveness of Montana's manufacturing sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Montana (MTNDURMANRQGSP), retrieved from FRED.