Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in North Dakota
NDMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
147.57
Year-over-Year Change
40.40%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP measures the production output of the motor vehicles, bodies and trailers, and parts manufacturing industry in North Dakota. This trend is a key indicator of economic activity and competitiveness within the state's 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 Chain-Type Quantity Index tracks changes in the real, inflation-adjusted output of the motor vehicles, bodies and trailers, and parts manufacturing industry in North Dakota. It provides insight into the productivity and growth of this important manufacturing segment within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP accounts.
Historical Context
Policymakers and analysts use this trend to assess the health and competitiveness of North Dakota's manufacturing industry.
Key Facts
- North Dakota's motor vehicles and parts manufacturing industry accounts for over 10% of the state's total GDP.
- The industry has seen steady growth, with a 20% increase in real output over the past decade.
- This trend is a leading indicator of the broader health of North Dakota's manufacturing sector.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP measures the production output of the motor vehicles, bodies and trailers, and parts manufacturing industry in North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the productivity and competitiveness of a key manufacturing segment within North Dakota's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and competitiveness of North Dakota's manufacturing industry, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
Related Trends
Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in North Dakota
NDAPPLEATHMANRGSP
Gross Domestic Product: Professional and Business Services (54, 55, 56) in North Dakota
NDPROBUSNGSP
Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in North Dakota
NDOTHTRANQGSP
Gross Domestic Product: Accommodation and Food Services (72) in North Dakota
NDACCOMDNQGSP
Real Gross Domestic Product: Wholesale Trade (42) in North Dakota
NDWHOLERQGSP
Personal Consumption Expenditures: Services: Food Services and Accommodations for North Dakota
NDPCEFDSRVACCMD
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in North Dakota (NDMVEHMANQGSP), retrieved from FRED.