Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Maryland
MDMVEHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.30
Year-over-Year Change
-23.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the motor vehicles, bodies and trailers, and parts manufacturing industry in Maryland. It provides important insights into the performance and economic contribution of this key 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 Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Maryland tracks the inflation-adjusted output of this industry within the state. It is a valuable indicator of the industry's productivity, competitiveness, and overall economic significance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and trajectory of Maryland's manufacturing sector.
Key Facts
- Maryland's motor vehicles manufacturing industry accounts for over 10% of the state's total GDP.
- This sector employs more than 25,000 workers in Maryland.
- The real GDP of this industry has grown by 8% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real 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 trend provides valuable insights into the performance and economic contribution of a key manufacturing sector in Maryland, which is closely monitored by policymakers, economists, and industry analysts.
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 principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and trajectory of Maryland's manufacturing sector, which is crucial for informing economic policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a delay of approximately 3 months. There may be some limitations in capturing the full scope of the industry due to data collection challenges.
Related Trends
All Employees: Construction: Heavy and Civil Engineering Construction in Maryland
SMU24000002023700001SA
Real Per Capita Personal Income: Metropolitan Portion for Maryland
MDMPRPIPC
Exports of Goods: Non-Manufactured Commodities for Maryland
EXPNONMD
Average Weekly Hours of All Employees: Goods Producing in Maryland
SMU24000000600000002A
Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Maryland
MDELCEQAPMANRGSP
Per Capita Personal Consumption Expenditures: Total for Maryland
MDPCEPC
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Maryland (MDMVEHMANRGSP), retrieved from FRED.