Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in the Great Lakes BEA Region
GLAKOTRANEQMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,392.60
Year-over-Year Change
34.60%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) for the other transportation equipment manufacturing industry in the Great Lakes Bureau of Economic Analysis (BEA) region. It provides important insights into the economic activity and production trends of this key manufacturing sector.
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 other transportation equipment manufacturing industry includes the production of aerospace products and parts, railroad rolling stock, and other transportation equipment not classified elsewhere. This GDP metric offers a valuable indicator of the overall health and performance of this critical industry within the Great Lakes region.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This GDP trend is closely monitored by economists, policymakers, and industry analysts to assess the state of the regional economy and inform economic policy decisions.
Key Facts
- The Great Lakes region is a major hub for transportation equipment manufacturing.
- This industry accounts for a significant portion of the region's economic output.
- Trends in this GDP metric can signal shifts in demand for transportation products.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the other transportation equipment manufacturing industry in the Great Lakes Bureau of Economic Analysis (BEA) region.
Q: Why is this trend relevant for users or analysts?
A: This GDP metric offers valuable insights into the overall health and performance of the critical transportation equipment manufacturing sector within the Great Lakes region, which is important for economic analysis and policy decisions.
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 GDP trend is closely monitored by economists, policymakers, and industry analysts to assess the state of the regional economy and inform economic policy decisions.
Q: Are there update delays or limitations?
A: There may be typical update delays associated with the release of official government economic statistics, but the data is considered a reliable and comprehensive representation of this industry's GDP within the Great Lakes region.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in the Great Lakes BEA Region (GLAKOTRANEQMANNGSP), retrieved from FRED.