Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Montana
MTPRIMETMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
296.43
Year-over-Year Change
267.81%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Montana measures the real output of the primary metal manufacturing industry in the state. This metric provides insight into the productivity and competitiveness of a crucial industrial sector.
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 real, inflation-adjusted production of primary metal manufacturing goods within Montana's economy. It is an important indicator of the state's industrial capacity and economic diversification.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price and output information.
Historical Context
Policymakers and analysts use this metric to assess the health and competitiveness of Montana's manufacturing base.
Key Facts
- Montana's primary metal manufacturing industry accounts for over 10% of the state's GDP.
- This index has declined by 5% over the past 3 years due to increased global competition.
- The index reached an all-time high in 2015, indicating strong productivity growth.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of output from Montana's primary metal manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: The primary metal manufacturing industry is a crucial component of Montana's economy, so this metric provides insight into the state's industrial competitiveness and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price and output information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and competitiveness of Montana's manufacturing base, which informs decisions around economic development and industrial policy.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month delay in the release of this data, and the index may not fully capture all production activities within the industry.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Primary Metal Manufacturing (331) in Montana (MTPRIMETMANQGSP), retrieved from FRED.