Total Revenue for General Automotive Repair, All Establishments, Employer Firms
REVEF811111ALLEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62,630.00
Year-over-Year Change
72.40%
Date Range
1/1/1998 - 1/1/2022
Summary
The Total Revenue for General Automotive Repair, All Establishments, Employer Firms trend measures the total revenue generated by automotive repair shops and service centers across the United States. This metric is a key indicator of consumer demand and the overall health of the automotive industry.
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 economic trend represents the total revenue earned by automotive repair establishments that employ workers, excluding self-employed individuals. It provides insight into the performance and growth of the general automotive repair sector, which is a vital component of the broader transportation and manufacturing industries.
Methodology
The data is collected by the U.S. Census Bureau through surveys of employer establishments in the automotive repair and maintenance industry.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to gauge consumer spending patterns and the overall state of the automotive market.
Key Facts
- The automotive repair industry employs over 800,000 workers in the United States.
- Total revenue for general automotive repair shops reached $123 billion in 2021.
- Revenue growth in the sector has outpaced overall GDP growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by automotive repair and service establishments in the United States that employ workers, excluding self-employed individuals.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer demand and spending patterns in the automotive industry, which is a key driver of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of employer establishments in the automotive repair and maintenance industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the health of the automotive sector and make informed decisions about policies affecting consumer spending and industry regulation.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may not capture all small or self-employed automotive repair businesses.
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Citation
U.S. Federal Reserve, Total Revenue for General Automotive Repair, All Establishments, Employer Firms (REVEF811111ALLEST), retrieved from FRED.