Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Delaware
DEMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.00
Year-over-Year Change
-66.80%
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 Delaware. It provides insights into the performance and economic contribution of this critical 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
The DEMVEHMANNGSP series tracks the GDP originating from the motor vehicles, bodies and trailers, and parts manufacturing industry (NAICS codes 3361-3363) in the state of Delaware. This data point is used by economists and policymakers to assess the health and competitiveness of Delaware's automobile manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP by industry estimates.
Historical Context
This industry-level GDP trend is relevant for understanding Delaware's manufacturing landscape and informing economic development policies.
Key Facts
- Delaware's motor vehicles manufacturing GDP was $1.2 billion in 2021.
- This industry accounts for approximately 2.5% of Delaware's total GDP.
- The sector experienced a 15% decline in GDP during the COVID-19 pandemic.
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 Delaware.
Q: Why is this trend relevant for users or analysts?
A: This industry-level GDP data provides insights into the performance and economic contribution of Delaware's automobile manufacturing sector, which is an important component of the state's overall economy.
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 state-level GDP by industry estimates.
Q: How is this trend used in economic policy?
A: This GDP trend is relevant for understanding Delaware's manufacturing landscape and can inform economic development policies and initiatives aimed at supporting the state's automobile industry.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the Bureau of Economic Analysis, and there may be some lag in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Delaware (DEMVEHMANNGSP), retrieved from FRED.