Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Pennsylvania
PAMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,203.90
Year-over-Year Change
60.12%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Pennsylvania. It provides insight into the performance and contribution of this key manufacturing sector within the state'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
The PAMVEHMANNGSP series represents the inflation-adjusted GDP for establishments primarily engaged in manufacturing automobiles, light trucks and utility vehicles, as well as related parts and accessories. This metric helps analysts and policymakers understand the broader economic conditions and competitiveness of Pennsylvania's automotive manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by economic and industry stakeholders to gauge the health and outlook of Pennsylvania's motor vehicle manufacturing landscape.
Key Facts
- Pennsylvania is a major hub for automotive manufacturing.
- This industry accounts for a significant portion of the state's GDP.
- The trend has shown volatility in recent years due to supply chain disruptions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a key manufacturing sector within Pennsylvania'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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economic and industry stakeholders to gauge the health and outlook of Pennsylvania's motor vehicle manufacturing landscape.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the source agency.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Pennsylvania (PAMVEHMANNGSP), retrieved from FRED.