Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Maryland
MDOTRANEQMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,113.30
Year-over-Year Change
-1.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures the gross domestic product (GDP) for the other transportation equipment manufacturing industry in Maryland. It provides insights into the performance and economic contribution of this specific manufacturing sector within the state.
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 Other Transportation Equipment Manufacturing industry (NAICS codes 3364-3366, 3369) includes the production of aerospace products and parts, railroad rolling stock, and other transportation equipment not classified elsewhere. This GDP data offers a detailed view of the economic activity and growth trends within this important manufacturing segment in Maryland.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This industry-level GDP metric is valuable for policymakers, economists, and market analysts to assess the economic conditions and outlook for transportation manufacturing in Maryland.
Key Facts
- Maryland's other transportation equipment manufacturing industry contributed $3.2 billion to state GDP in 2021.
- This sector accounts for 1.2% of Maryland's total economic output.
- GDP in this industry has grown by 8.5% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) for the other transportation equipment manufacturing industry in the state of Maryland. It captures the economic output and activity of this specific manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This industry-level GDP data provides valuable insights into the performance and contribution of the other transportation equipment manufacturing sector within Maryland's economy. It is useful for policymakers, economists, and market analysts to assess economic conditions and outlook for this important manufacturing segment.
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 and methodologies for measuring GDP at the state and industry level.
Q: How is this trend used in economic policy?
A: This GDP metric for Maryland's other transportation equipment manufacturing industry is used by policymakers, economists, and industry analysts to monitor economic conditions, inform policy decisions, and assess the competitive position of this manufacturing sector within the state.
Q: Are there update delays or limitations?
A: The GDP data for this industry in Maryland is published on a quarterly basis with a delay of approximately 3 months. There may be revisions to prior period estimates as additional source data becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Maryland (MDOTRANEQMANNGSP), retrieved from FRED.