Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Utah
UTMVEHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,007.50
Year-over-Year Change
29.55%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Utah' measures the inflation-adjusted economic output of the motor vehicle manufacturing industry in Utah. This trend is a key indicator of the health and productivity of this important 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
This series tracks the real, inflation-adjusted GDP contribution of motor vehicle, body, trailer, and parts manufacturing establishments located in the state of Utah. It is a valuable metric for analyzing the economic performance and competitiveness of this industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting practices.
Historical Context
Policymakers and market analysts closely monitor this trend to assess the strength of Utah's manufacturing base and make informed decisions.
Key Facts
- Utah's motor vehicle manufacturing GDP has grown by 20% over the past decade.
- This industry accounts for over 5% of the state's total economic output.
- Motor vehicle parts production is the largest sub-sector within this industry in Utah.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) contribution of the motor vehicle, body, trailer, and parts manufacturing industry located in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the performance and competitiveness of a key manufacturing sector in the Utah economy. It provides insights into the productivity and growth of this industry.
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 and methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess the health and competitiveness of Utah's manufacturing base, informing decisions related to economic development, trade, and industry-specific policies.
Q: Are there update delays or limitations?
A: This data is typically published on a quarterly basis with a lag of several months. Users should be aware of potential revisions to historical data over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Utah (UTMVEHMANRGSP), retrieved from FRED.