Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Connecticut
CTMVEHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
505.90
Year-over-Year Change
9.69%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Connecticut. It provides insights into the economic output and performance of this key manufacturing sector in 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 Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Connecticut series tracks the inflation-adjusted economic output of this industry within the state. It is an important indicator of the industry's productivity, competitiveness, and contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economists to assess the health and competitiveness of Connecticut's manufacturing sector.
Key Facts
- Connecticut is a major hub for motor vehicle and parts manufacturing.
- This industry accounts for a significant portion of the state's GDP.
- The trend has shown volatility in recent years due to global supply chain disruptions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity, competitiveness, and economic contribution of a crucial manufacturing sector in Connecticut, which is important for policymakers, industry analysts, and economists.
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 trend is closely monitored by policymakers, industry analysts, and economists to assess the health and competitiveness of Connecticut's manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and revision process of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or revisions to historical data.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Connecticut (CTMVEHMANRGSP), retrieved from FRED.