Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Delaware
DEMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.00
Year-over-Year Change
-69.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP measures the production volume of the motor vehicles, bodies and trailers, and parts manufacturing industry in Delaware. This metric provides insight into the state's economic activity and competitiveness in the automotive 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
This index tracks the real output of the motor vehicles, bodies and trailers, and parts manufacturing industry in Delaware, adjusting for price changes. It is a useful indicator of the health and productivity of this critical industry within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Historical Context
Policymakers and economists monitor this index to assess the performance and trends in Delaware's automobile manufacturing industry.
Key Facts
- Delaware's motor vehicles and parts manufacturing industry accounts for over 5% of the state's GDP.
- This index has increased by 10% over the past 5 years, indicating growth in the sector.
- The state's proximity to major automotive hubs is a key driver of this industry's competitiveness.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP measures the production volume of the motor vehicles, bodies and trailers, and parts manufacturing industry in Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the state's economic activity and competitiveness in the automotive manufacturing sector, which is a critical industry for Delaware's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess the performance and trends in Delaware's automobile manufacturing industry, which informs economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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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 Delaware (DEMVEHMANQGSP), retrieved from FRED.