Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Utah
UTOTRANEQMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,816.80
Year-over-Year Change
65.60%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures real gross domestic product (GDP) for other transportation equipment manufacturing in Utah. It provides insights into the economic performance and production trends of this key industry within the state.
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 Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Utah metric tracks the inflation-adjusted value added by this manufacturing subsector to the state's overall economic output. It is a important indicator of industrial activity and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP by industry statistics.
Historical Context
Policymakers and analysts use this metric to assess the health and growth dynamics of Utah's transportation equipment manufacturing sector.
Key Facts
- Utah's transportation equipment manufacturing GDP was $1.4 billion in 2021.
- This subsector accounts for 2.1% of Utah's total gross state product.
- Real GDP in this industry grew by 4.2% in 2021 after a 2.9% decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) generated by the other transportation equipment manufacturing subsector in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and competitiveness of a key manufacturing industry within Utah, which is important for policymakers, businesses, and economists analyzing the state's industrial base and economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and growth dynamics of Utah's transportation equipment manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published with a lag of several quarters, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Utah (UTOTRANEQMANRGSP), retrieved from FRED.