Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Utah
UTNMMPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
727.40
Year-over-Year Change
1.28%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in Utah. It provides insight into the performance and contribution of this key manufacturing sector to the state's overall 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 Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Utah series tracks the inflation-adjusted output of firms engaged in the production of a variety of nonmetallic mineral products, such as glass, cement, and ceramics. This data point is a valuable indicator of manufacturing trends and competitiveness within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely monitored by policymakers, industry analysts, and investors to assess the health and outlook of Utah's manufacturing base.
Key Facts
- Utah is a leading producer of nonmetallic mineral products in the U.S.
- The nonmetallic mineral manufacturing sector accounts for over 5% of Utah's total GDP.
- This industry has experienced steady growth in recent years, outpacing the national average.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) of the nonmetallic mineral product manufacturing industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the performance and competitiveness of a key manufacturing sector in Utah's economy, which is closely watched by policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and industry analysts to assess the health and outlook of Utah's manufacturing base, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Utah (UTNMMPMANRGSP), retrieved from FRED.