Gross Domestic Product: Retail Trade (44-45) in Montana
MTRETAILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,388.10
Year-over-Year Change
98.84%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Retail Trade (44-45) in Montana measures the economic output of the retail trade sector in the state. This trend is a key indicator of consumer spending and 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 Gross Domestic Product: Retail Trade (44-45) in Montana represents the total economic output of the retail trade industry, which includes the sale of merchandise and services to consumers. This metric is widely used by economists and policymakers to assess the health of the state's economy and consumer demand.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend provides important insights into the strength of Montana's consumer-driven economy and can inform fiscal and monetary policy decisions.
Key Facts
- Montana's retail trade sector accounts for over 10% of the state's GDP.
- Retail trade GDP in Montana has grown by an average of 3% annually over the past decade.
- The COVID-19 pandemic caused a 6% decline in Montana's retail trade GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Retail Trade (44-45) in Montana measures the total economic output of the retail trade industry in the state, including the sale of merchandise and services to consumers.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the strength of Montana's consumer-driven economy and can inform fiscal and monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to assess the health of Montana's economy and consumer demand, which can inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Montana (MTRETAILNGSP), retrieved from FRED.