Montana Economy | Data | Chart | Analysis | Historical | MacroVar
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Montana economic growth
Economic growth of the state of Montana is tracked by the GDP growth indicator. However, GDP is a lagging indicator since it reports what economic growth was in the previous quarter. MacroVar aims to predict what economic growth will be in six to twelve months. Consequently, MacroVar tracks the following leading economic indicators: Montana Leading economic index, Initial jobless claims, Building permits and Real Estate prices. Current economic growth conditions of the state of Montana are monitored using Montana coincident economic activity index.
Leading Index Montana 0.74 0.99 -0.252525 -2.15625 -1.0 0.0833333 2020-02-29
Coincident Economic Activity Index for Montana 118.74 117.31 0.0121899 0.505706 1.0 1 2021-04-01
Initial Jobless Claims Montana 1221 1159 0.0534944 -0.165414 -1.0 0.5 2021-05-29
Build Permits Montana 412.096 605.424 -0.319327 0.488351 -1.0 0.833333 2021-04-01
Total Gross Domestic Product Montana 53015.4 51933.5 0.0208324 0.0947691 1.0 0 2020-10-01
Zillow Montana all Prices 340532 334360 0.0184591 0.141545 1.0 1 2021-04-30
Unemployment Rate in Montana 3.8 4.4 -0.136364 -0.683333 -1.0 0.0166667 2021-04-01
Montana unemployment is a very important economic indicator affecting the state’s economic condition. MacroVar monitors initial jobless claims which is reported every week and is an important indicator of current economic conditions. Montana unemployment is reported later in the month.
Construction activity is a very important economic indicator for the economy of Montana. MacroVar monitors the following indicators: Montana building permits, real estate prices, real estate rent and the house price index. Building permits is a leading economic indicator measuring the number of permits required to start construction. Hence, it predicts the construction activity in the state for the following year. When economic growth is strong and financial conditions are normal, developers are optimistic about future economic growth and they apply for new building permits to begin new construction projects and vice-versa.
All-Transactions House Price Index for Montana 512.83 499.85 2.6 17.42 UP 100 2021-01-13
Montana cost of living is monitored using the following indicators: Real per capita personal income, Real trade-weighted value of the dollar, Montana Zillow rent levels, Regional price parities all items
Real Per Capita Personal Income for Montana 48625 48140 1.01 0 UP 0 2021-01-13
Real Trade-Weighted Value of the dollar for Montana 110.436 109.294 0.0104489 -0.0658591 -1.0 0.0333333 2021-03-01
Regional Price Parities: All Items for Montana 93.5 92.9 0.65 0 Down 0 2021-01-13
Montana Economic news
MacroVar monitors news and economic developments related to the Montana economy.
Leading Index: The leading index for Montana state predicts the six-month growth rate of the state’s coincident index. The indicator monitors the following variables leading the economy: state-level housing permits (1 to 4 units), state initial unemployment insurance claims, delivery times for Institute for Supply Management (ISM) manufacturing survey, and the interest rate spread between the 10-year Treasury bond and the 3-month Treasury bill.
Coincident Index: The coincident economic activity index includes the following indicators: nonfarm payroll employment, the unemployment rate, average hours worked in manufacturing and wages and salaries. The trend for Montana state index is set to match the trend for GDP growth.
Building Permits: Montana building permits represents the total number of building permits for all structure types.
GDP: The total value of goods produced and services provided in Montana during one year.
Unemployment Rate: Montana unemployment rate is the proportion of the labor force that is not currently employed but could be.
Real Estate prices (Zillow): MacroVar monitors real estate prices across Montana using current prices determined by real estate activity tracked by Zillow.
House Price Index: Montana House price index summarizes real estate activity using estimated sales prices and appraisal data.
Real trade-weighted value of the dollar: This index calculates the inflation-adjusted value of the US dollar against the currencies of countries to which Montana exports. The real exchange rates are aggregated across countries for Montana using the annual average export share to the country.
Regional price parities: Regional price parities (RPPs) are regional price levels expressed as a percentage of the overall national price level for a given year. The price levels are determined by the average prices paid by consumers for the mix of goods and services consumed in the state of Montana. Taking the ratio of RPPs shows the difference in price levels across regions.
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