Real Gross Domestic Product: Private Industries in Montana
MTPIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,706.00
Year-over-Year Change
36.54%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Private Industries in Montana measures the total inflation-adjusted economic output of the private sector in the state of Montana. This metric is a key indicator of the overall health and growth of the state'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 series represents the real (inflation-adjusted) gross domestic product originating from private industries in Montana. It is a useful indicator for analyzing the economic performance and growth trends within the state's private sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level economic statistics.
Historical Context
Policymakers and economists closely monitor this metric to assess the strength of Montana's private-sector activity and make informed decisions.
Key Facts
- Montana's private sector accounts for over 80% of the state's total economic output.
- Real private GDP in Montana has grown by an average of 2.5% annually over the past decade.
- The state's top private industries include agriculture, energy, and tourism.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Private Industries in Montana measures the total inflation-adjusted economic output of the private sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the overall health and growth of Montana's economy, providing insights into the performance and trends within the state's private sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level economic statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess the strength of Montana's private-sector activity and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a lag of several months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Montana (MTPIRGSP), retrieved from FRED.