Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Illinois
ILOTRANEQMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,426.70
Year-over-Year Change
40.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the other transportation equipment manufacturing industry in Illinois. It is an important indicator of the state's economic performance and activity in this 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 real GDP of other transportation equipment manufacturing in Illinois represents the total value of goods and services produced by this industry, adjusted for inflation. It provides insights into the productivity and growth of this critical segment of the state's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
Policymakers and analysts use this trend to assess the health and competitiveness of Illinois' transportation equipment manufacturing industry.
Key Facts
- Illinois is a major hub for transportation equipment manufacturing.
- The industry contributes significantly to the state's economic output.
- Trends in this sector can signal broader changes in Illinois' manufacturing base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the other transportation equipment manufacturing industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the productivity and growth of a critical segment of Illinois' manufacturing base, which is important for policymakers and analysts to monitor.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and competitiveness of Illinois' transportation equipment manufacturing industry, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Illinois (ILOTRANEQMANRGSP), retrieved from FRED.