Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Maryland
MDMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.50
Year-over-Year Change
-18.11%
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 the state of Maryland. It provides insight into the health and productivity of this important 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 MDMVEHMANNGSP series tracks the economic output of companies engaged in the production of motor vehicles, vehicle bodies and trailers, and automotive parts and accessories in Maryland. This metric is used by economists and policymakers to analyze the performance and trends within this key industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP by industry estimates.
Historical Context
This trend is relevant for understanding the strength of Maryland's automotive manufacturing sector and its contribution to the state's overall economic activity.
Key Facts
- Maryland's motor vehicle manufacturing GDP was $3.5 billion in 2021.
- This industry accounts for 3.7% of Maryland's total GDP.
- GDP in this sector has grown by 9.4% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and productivity of an important manufacturing sector in Maryland, which is useful for economic analysis and policymaking.
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 its comprehensive GDP by industry estimates.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the strength of Maryland's automotive manufacturing sector and its contribution to the state's overall economic activity, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may have a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Maryland (MDMVEHMANNGSP), retrieved from FRED.