Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Florida
FLMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
185.75
Year-over-Year Change
86.21%
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 Florida measures the output of the motor vehicle 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
This index tracks the real production levels of the motor vehicle industry in Florida, an important component of the state's economy. Economists and policymakers use this data to gauge the health and performance of this key manufacturing sector.
Methodology
The data is collected through surveys of manufacturers and calculated as a chain-type quantity index.
Historical Context
The index provides insights into consumer demand, business investment, and trade policy impacts on the motor vehicle industry.
Key Facts
- Florida is a major center for motor vehicle manufacturing in the U.S.
- The industry employs over 30,000 workers in the state.
- Motor vehicle production accounts for over 5% of Florida's total GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the motor vehicle manufacturing industry in Florida, including the production of cars, trucks, and automotive parts.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into a key manufacturing sector in Florida's economy, which has broader implications for consumer demand, business investment, and trade policy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturers and calculated as a chain-type quantity index by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the health of Florida's motor vehicle manufacturing industry and its broader impact on the state's economy.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as new information becomes 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 Florida (FLMVEHMANQGSP), retrieved from FRED.