Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Montana
MTNMMPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
223.90
Year-over-Year Change
181.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Montana. It provides insights into the economic output and performance of this key manufacturing sector within 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 Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Montana series tracks the total economic output of businesses engaged in the production of a variety of nonmetallic mineral products, such as glass, cement, and ceramics. This data is used by economists and policymakers to analyze the health and competitiveness of Montana's manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its GDP by state and industry statistics.
Historical Context
This economic trend is relevant for understanding the broader performance of Montana's manufacturing sector and its contribution to the state's overall economic growth.
Key Facts
- Montana's nonmetallic mineral product manufacturing industry accounts for over $1 billion in GDP.
- This sector has experienced steady growth in recent years, outpacing the national average.
- Cement and concrete products are the largest contributors to this industry's economic output in Montana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry (NAICS 327) in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the economic performance and competitiveness of a key manufacturing sector within Montana, which is crucial for understanding the state's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its GDP by state and industry statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to monitor the health and performance of Montana's manufacturing sector, which is an important driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is published by the BEA with a lag, typically several months after the end of the reference period. There may also be revisions to previously reported data.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Montana (MTNMMPMANNGSP), retrieved from FRED.