Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in North Carolina
NCMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.01
Year-over-Year Change
22.73%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the chain-type quantity index for real GDP in the motor vehicles, bodies and trailers, and parts manufacturing industry in North Carolina. It provides insight into the economic output and production levels of this key 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 Chain-Type Quantity Index for Real GDP in Motor Vehicles, Bodies and Trailers, and Parts Manufacturing in North Carolina tracks the real output of this industry within the state. It serves as an important indicator of the manufacturing and production capacity in this part of the economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This metric is used by economists and policymakers to assess the health and performance of the manufacturing sector in North Carolina.
Key Facts
- The index has a base year of 2012.
- North Carolina is a major automotive manufacturing hub.
- The industry represents a significant portion of the state's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the motor vehicles, bodies and trailers, and parts manufacturing industry in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the production and economic output of a key manufacturing sector in North Carolina, which is important for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and performance of the manufacturing sector in North Carolina, which can inform economic development and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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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 North Carolina (NCMVEHMANQGSP), retrieved from FRED.