Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Colorado
COMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
308.64
Year-over-Year Change
361.76%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Colorado measures the real output of the motor vehicle manufacturing industry in Colorado over time.
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 production in the motor vehicle manufacturing sector in Colorado, which is a key indicator of economic activity and industrial output for the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing firms.
Historical Context
Policymakers and economists use this index to assess the health of Colorado's manufacturing economy.
Key Facts
- The index is published quarterly by the U.S. Bureau of Economic Analysis.
- Colorado's motor vehicle manufacturing sector accounts for a significant portion of the state's GDP.
- This index can signal changes in consumer demand and business investment.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or production volume, of the motor vehicle manufacturing industry in Colorado.
Q: Why is this trend relevant for users or analysts?
A: The motor vehicle manufacturing sector is a key driver of Colorado's economy, so this index provides important insights into the state's industrial and economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of motor vehicle manufacturing firms in Colorado by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health of Colorado's manufacturing economy and inform decisions related to economic development, trade, and industrial policy.
Q: Are there update delays or limitations?
A: The index is published quarterly, so there may be a delay of several months before the latest data is available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Colorado (COMVEHMANQGSP), retrieved from FRED.