Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Arizona
AZMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
302.95
Year-over-Year Change
284.66%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP measures the production output of the motor vehicles, bodies and trailers, and parts manufacturing industries in Arizona. This metric provides insight into a key component of the state's 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
This index tracks the real, inflation-adjusted production volume of the motor vehicles and related manufacturing sector in Arizona. It is a valuable indicator of industrial activity and can inform economic analysis and policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to gauge the health and trends within Arizona's critical manufacturing industries.
Key Facts
- The base year for this index is 2012.
- Arizona's motor vehicles manufacturing sector accounts for over 3% of the state's total GDP.
- Production volumes reached a record high in 2018.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted production output of the motor vehicles, bodies and trailers, and parts manufacturing industries in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into a key component of Arizona's industrial and economic activity, allowing policymakers and analysts to assess the health and performance of the state's critical manufacturing sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to gauge the strength and trends within Arizona's motor vehicles manufacturing industries, which informs economic analysis and policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Arizona (AZMVEHMANQGSP), retrieved from FRED.