Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Ohio
OHMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.88
Year-over-Year Change
24.83%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Ohio measures the real output of the motor vehicle manufacturing industry in the state. This trend is a key indicator of the health and productivity of a vital sector of Ohio's economy.
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
This index tracks the real, inflation-adjusted production of motor vehicles, bodies, trailers, and parts by manufacturers located in Ohio. It provides insights into the performance and competitiveness of this crucial industry, which has significant impacts on the state's employment, investment, and economic growth.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing establishments.
Historical Context
Policymakers and industry analysts use this index to monitor the dynamics of Ohio's motor vehicle manufacturing sector and its influence on the broader state economy.
Key Facts
- Ohio is a major hub for motor vehicle manufacturing in the U.S.
- The motor vehicle industry accounts for a significant share of Ohio's GDP.
- This index tracks real output, not just nominal sales or revenue.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the motor vehicle manufacturing industry in the state of Ohio, including the production of motor vehicles, bodies, trailers, and parts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and competitiveness of a crucial sector of Ohio's economy, with implications for employment, investment, and overall economic growth in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of manufacturing establishments in Ohio.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to monitor the dynamics of Ohio's motor vehicle manufacturing sector and its influence on the broader state economy, informing decisions and strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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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 Ohio (OHMVEHMANQGSP), retrieved from FRED.