Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Pennsylvania
PANMMPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79.51
Year-over-Year Change
-12.28%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Pennsylvania measures the inflation-adjusted output of this industry in the state. It is a key indicator of economic activity and productivity in the manufacturing 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 volume of real GDP, or inflation-adjusted economic output, specifically for the nonmetallic mineral product manufacturing industry in Pennsylvania. It is used by economists and policymakers to analyze trends in the state's industrial production and make informed decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using proprietary methodologies.
Historical Context
This index provides valuable insights into the performance of a critical manufacturing industry and its contribution to the broader Pennsylvania economy.
Key Facts
- The index is based on 2012 as the base year, with a value of 100.
- Nonmetallic mineral product manufacturing accounts for approximately 2% of Pennsylvania's GDP.
- The index reached a peak of 111.27 in 2018 before declining in recent years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the nonmetallic mineral product manufacturing industry in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance of a critical manufacturing sector and its contribution to the broader Pennsylvania economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using proprietary methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to analyze trends in Pennsylvania's industrial production and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with occasional revisions to historical data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Pennsylvania (PANMMPMANQGSP), retrieved from FRED.