Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Arkansas
AROTRANEQMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,231.40
Year-over-Year Change
20.45%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) generated by the other transportation equipment manufacturing industry in Arkansas. It provides insights into the economic activity and performance of this key manufacturing sector 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 other transportation equipment manufacturing industry includes the production of a variety of transportation-related products, such as aerospace, railroad, and ship equipment. This GDP measure helps economists and policymakers understand the size and contribution of this industry to Arkansas's overall economic output.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP statistics.
Historical Context
This trend is used by economists, industry analysts, and policymakers to assess the health and competitiveness of Arkansas's manufacturing sector.
Key Facts
- Arkansas's other transportation equipment manufacturing GDP was $1.3 billion in 2021.
- This industry accounts for approximately 2% of Arkansas's total GDP.
- The industry has seen 3.5% average annual growth over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the other transportation equipment manufacturing industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of a key manufacturing sector in Arkansas, which is useful for economists, industry analysts, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists, industry analysts, and policymakers to assess the health and competitiveness of Arkansas's manufacturing sector, which can inform economic development and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a lag of several months, so there may be a delay in the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Arkansas (AROTRANEQMANNGSP), retrieved from FRED.