Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Montana
MTPLASRUBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.15
Year-over-Year Change
21.08%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Montana measures the real output of the plastics and rubber manufacturing industry in the state over time.
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 provides a measure of the volume of goods produced by the plastics and rubber manufacturing sector in Montana, adjusting for price changes. It is a key indicator of economic activity and productivity in this important industrial segment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Historical Context
Policymakers and analysts use this index to understand trends in Montana's manufacturing output and make informed decisions.
Key Facts
- The index is measured relative to 2012 as the base year.
- Montana's plastics and rubber manufacturing sector accounts for over 3% of the state's GDP.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or production volume of the plastics and rubber manufacturing industry in the state of Montana, adjusted for price changes.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of economic activity and productivity in Montana's important plastics and rubber manufacturing sector, providing insights for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to account for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to understand trends in Montana's manufacturing output and make informed decisions about economic and industrial policies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Montana (MTPLASRUBMANQGSP), retrieved from FRED.