Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Alabama
ALMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,733.90
Year-over-Year Change
63.97%
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 Alabama. It provides insights into the performance and contribution of this key manufacturing sector to the state's overall economic activity.
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 ALMVEHMANNGSP series represents the GDP originating from establishments primarily engaged in manufacturing motor vehicles, motor vehicle bodies and trailers, and motor vehicle parts in the state of Alabama. This data is used by economists and policymakers to assess the health and competitiveness of the state's automotive manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their state-level GDP estimates.
Historical Context
This trend is relevant for understanding the role of the automotive industry in Alabama's economy and its impact on employment, investment, and trade.
Key Facts
- Alabama is a major center for automotive manufacturing in the U.S.
- The motor vehicles industry accounts for a significant portion of the state's GDP.
- This sector has seen growth and investment in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) originating from the motor vehicles, bodies and trailers, and parts manufacturing industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the automotive manufacturing sector to Alabama's overall economic activity, which is crucial for understanding the state's industrial composition and competitiveness.
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 their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the health and growth of Alabama's automotive manufacturing sector, which has significant implications for employment, investment, and trade in the state.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revisions of the U.S. Bureau of Economic Analysis' state-level GDP estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Alabama (ALMVEHMANNGSP), retrieved from FRED.