Chain-Type Quantity Index for Real GDP: Private Industries in Montana
MTPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.33
Year-over-Year Change
36.54%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Industries in Montana measures the inflation-adjusted output of Montana's private sector. It serves as a key indicator of the state's economic performance and growth.
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 index tracks the volume of goods and services produced by Montana's private businesses, excluding the public sector. It allows analysts to assess the state's economic health and identify trends in private industry productivity.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to control for price changes.
Historical Context
The real GDP index is widely used by policymakers, economists, and investors to monitor Montana's economic conditions and outlook.
Key Facts
- The index has a base year of 2012 = 100.
- Montana's private sector accounts for over 80% of the state's total GDP.
- The index reached a record high in 2019 before declining due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Industries in Montana measures the inflation-adjusted output of the state's private sector businesses.
Q: Why is this trend relevant for users or analysts?
A: This index provides a key indicator of Montana's overall economic performance and the productivity of its private industries, which is crucial information for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to control for price changes.
Q: How is this trend used in economic policy?
A: The real GDP index is widely used by policymakers, economists, and investors to monitor Montana's economic conditions and outlook, informing decisions on fiscal, monetary, and investment policies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month release lag. The data may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Industries in Montana (MTPIQGSP), retrieved from FRED.