Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Montana
MTMVEHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.40
Year-over-Year Change
135.50%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Montana. It provides insight into the productivity and performance 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 Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Montana series tracks the inflation-adjusted economic output of this industry within the state. It is a crucial indicator for understanding Montana's manufacturing capabilities and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This trend is used by policymakers, economists, and industry analysts to assess the health and growth of Montana's automotive manufacturing sector.
Key Facts
- Motor vehicles, bodies and trailers, and parts manufacturing accounts for a significant portion of Montana's GDP.
- This industry has experienced steady growth in recent years, indicating economic expansion.
- The trend data is adjusted for inflation to provide a real measure of economic activity.
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 Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the productivity and performance of a key manufacturing sector in Montana, which is crucial for understanding the state's economic competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and growth of Montana's automotive manufacturing sector, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, but there may be some delays in publication compared to real-time economic activity.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Montana (MTMVEHMANRGSP), retrieved from FRED.