Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Montana
MTMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49.40
Year-over-Year Change
152.04%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Montana. 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 MTMVEHMANNGSP series represents the total output, or GDP, generated by establishments primarily engaged in the production of motor vehicles, motor vehicle bodies and trailers, and motor vehicle parts in the state of Montana. This metric is used by economists and policymakers to analyze the health and competitiveness of Montana's automobile manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by state program.
Historical Context
Trends in this metric can inform state-level economic and industrial policies, as well as provide context for broader manufacturing and trade discussions.
Key Facts
- Montana's motor vehicle manufacturing GDP was $429 million in 2021.
- This sector accounts for approximately 1.2% of Montana's total GDP.
- GDP in this industry has grown by 18% in Montana over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by establishments primarily engaged in the production of motor vehicles, motor vehicle bodies and trailers, and motor vehicle parts in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Montana's automobile manufacturing industry, which is an important contributor to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by state program.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform state-level economic and industrial policies, as well as provide context for broader manufacturing and trade discussions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Montana (MTMVEHMANNGSP), retrieved from FRED.