Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Arkansas
ARMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
543.60
Year-over-Year Change
9.03%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Arkansas. It provides insights into the economic performance and contribution of this key manufacturing sector within the state.
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 ARMVEHMANNGSP series tracks the GDP originating in the motor vehicles, bodies and trailers, and parts manufacturing industry (NAICS 3361-3363) located in Arkansas. This metric is useful for analyzing the relative importance and trends of this industry within the state's overall economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Historical Context
Policymakers and industry analysts use this trend to gauge the health and competitiveness of Arkansas's automotive manufacturing sector.
Key Facts
- Arkansas's motor vehicle manufacturing GDP was $2.3 billion in 2021.
- This industry accounts for approximately 3% of the state's total GDP.
- The sector has seen steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) originating from the motor vehicles, bodies and trailers, and parts manufacturing industry (NAICS 3361-3363) located in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and importance of Arkansas's automotive manufacturing sector, which is a key component of the state's industrial base.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to gauge the health and competitiveness of Arkansas's automotive manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis by the BEA, with typical update delays of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Arkansas (ARMVEHMANNGSP), retrieved from FRED.