Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Florida
FLOTRANEQMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,846.80
Year-over-Year Change
95.88%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Florida' series measures the real output of the transportation equipment manufacturing industry in Florida, adjusted for inflation.
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 metric provides insights into the economic activity and productivity of a key manufacturing sector in the state, which is vital for understanding Florida's overall economic performance and growth prospects.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this trend to assess the health and competitiveness of Florida's manufacturing base and guide economic development strategies.
Key Facts
- Florida is a major hub for transportation equipment manufacturing.
- This industry accounts for a significant portion of the state's GDP.
- The real output of this sector has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output of the transportation equipment manufacturing industry in Florida, which includes the production of motor vehicles, aerospace products, and other transportation equipment.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and competitiveness of a key manufacturing sector in Florida, which has significant implications for the state's overall economic growth and development.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and competitiveness of Florida's manufacturing base and guide economic development strategies, such as investments in infrastructure, workforce training, and industry incentives.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some lags in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Florida (FLOTRANEQMANRGSP), retrieved from FRED.