Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Montana
MTOTRANEQMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58.10
Year-over-Year Change
975.93%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the other transportation equipment manufacturing industry in Montana. This metric is important for understanding 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 other transportation equipment manufacturing industry in Montana includes the production of a variety of transportation-related products, such as aerospace components, railroad rolling stock, and motorcycles. This GDP metric provides insight into the growth and competitiveness of this industry within the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Policymakers and industry analysts use this data to evaluate the economic conditions and competitive landscape of Montana's transportation manufacturing sector.
Key Facts
- Montana's other transportation equipment manufacturing GDP was $336 million in 2021.
- This industry accounts for 1.2% of Montana's total GDP.
- The sector has seen a 5.2% average annual growth rate over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the other transportation equipment manufacturing industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Montana's transportation manufacturing sector, which is an important contributor to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to evaluate the economic conditions and competitive landscape of Montana's transportation manufacturing sector, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the metric may not capture all aspects of the transportation manufacturing industry in Montana.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Montana (MTOTRANEQMANNGSP), retrieved from FRED.