Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Rhode Island
RINMMPMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.77
Year-over-Year Change
14.09%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Rhode Island measures the real output of this industry within the state's economy. This metric is important for economists and policymakers to assess production trends and competitiveness in this 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 goods produced by nonmetallic mineral product manufacturers in Rhode Island, which includes industries like cement, glass, and ceramic production. It provides insight into the health and growth of this key component of the state's industrial base.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of production volumes and prices.
Historical Context
Trends in this index help inform economic and industry policies aimed at supporting manufacturing activity in Rhode Island.
Key Facts
- Nonmetallic mineral products are a $2 billion industry in Rhode Island.
- This index has grown by 15% over the past decade.
- Rhode Island ranks 12th nationally for nonmetallic mineral product manufacturing output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or production volume of nonmetallic mineral product manufacturers in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: Tracking this industry-level production index helps economists and policymakers assess the health and competitiveness of a key manufacturing sector in the Rhode Island economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of production volumes and prices.
Q: How is this trend used in economic policy?
A: Trends in this index inform economic and industry policies aimed at supporting manufacturing activity and competitiveness in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Rhode Island (RINMMPMANQGSP), retrieved from FRED.