Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Maine
MEOTRANEQMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,633.10
Year-over-Year Change
98.24%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the other transportation equipment manufacturing industry in Maine. It provides insights into the performance and economic contribution of this important manufacturing sector in 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 3364-3466, 3369) includes the production of a variety of transportation equipment, such as aerospace products, railroad rolling stock, and ships and boats. This GDP metric offers a comprehensive view of the economic activity and productivity in this manufacturing segment within Maine.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the regional GDP by industry statistics.
Historical Context
This trend is useful for policymakers, economists, and analysts to understand the dynamics and competitiveness of Maine's manufacturing sector.
Key Facts
- Maine's other transportation equipment manufacturing GDP was $1.2 billion in 2021.
- This industry accounts for about 3% of Maine's total manufacturing GDP.
- The sector experienced a 7.2% annual growth rate from 2016 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the other transportation equipment manufacturing industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and economic contribution of an important manufacturing sector in Maine, which is useful for 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 as part of the regional GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and analysts to understand the dynamics and competitiveness of Maine's manufacturing sector, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to revision and update delays.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Maine (MEOTRANEQMANNGSP), retrieved from FRED.