Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in North Carolina
NCMVEHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,778.10
Year-over-Year Change
22.73%
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 North Carolina. It is an important indicator of the state's economic activity and production in 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 (RGDP) for the motor vehicles, bodies and trailers, and parts manufacturing industry in North Carolina tracks the total inflation-adjusted value of goods and services produced by this sector. It provides insights into the health and performance of a critical component of the state's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely watched by policymakers, economists, and industry analysts to assess the state's economic conditions and competitiveness in the automotive manufacturing industry.
Key Facts
- North Carolina is a major automotive manufacturing hub in the U.S.
- The motor vehicles and parts industry accounts for a significant portion of the state's GDP.
- This trend has shown fluctuations in recent years due to global supply chain disruptions.
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 North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and performance of a critical component of North Carolina's manufacturing base, which is closely watched by policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the state's economic conditions and competitiveness in the automotive manufacturing industry.
Q: Are there update delays or limitations?
A: The data is subject to the typical release schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in North Carolina (NCMVEHMANRGSP), retrieved from FRED.