Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Tennessee
TNMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,628.40
Year-over-Year Change
110.17%
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 Tennessee. It provides insights into the performance and contribution of this key manufacturing sector to 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 TNMVEHMANNGSP series represents the GDP generated by establishments engaged in the production of motor vehicles, motor vehicle bodies and trailers, and motor vehicle parts in Tennessee. This metric is used by economists and policymakers to analyze the growth, productivity, and competitiveness of this important manufacturing industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional GDP estimates.
Historical Context
This trend is relevant for understanding the health and dynamics of Tennessee's manufacturing sector and its broader economic conditions.
Key Facts
- Tennessee is a major hub for automotive manufacturing in the U.S.
- The motor vehicles industry accounts for a significant portion of the state's GDP.
- This sector has experienced fluctuations in output and employment over time.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by establishments engaged in the production of motor vehicles, motor vehicle bodies and trailers, and motor vehicle parts in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and competitiveness of a key manufacturing industry in Tennessee, which is crucial for understanding the state's overall economic conditions and growth prospects.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the health and dynamics of Tennessee's manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Tennessee (TNMVEHMANNGSP), retrieved from FRED.