Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Minnesota
MNOTRANEQMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,922.40
Year-over-Year Change
45.80%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the other transportation equipment manufacturing industry in Minnesota. It provides insight into the state's economic activity and industrial production.
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 includes the production of aerospace products, railroad rolling stock, and other transportation equipment. This data series helps analysts and policymakers understand Minnesota's industrial output and competitiveness in this key manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This industry-level GDP metric is used to inform economic and industrial policies at the state and local level.
Key Facts
- Minnesota accounts for over 5% of U.S. transportation equipment manufacturing GDP.
- This industry contributed $5.2 billion to Minnesota's GDP in 2021.
- Employment in this sector grew by 7.3% in Minnesota from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) contribution of the other transportation equipment manufacturing industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the economic output and industrial competitiveness of a key manufacturing sector in Minnesota, which is important for understanding the state's overall economic performance and industrial base.
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 their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This industry-level GDP metric is used to inform economic and industrial policies at the state and local level, helping policymakers understand the dynamics of Minnesota's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
Related Trends
Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Minnesota
MNPROSCITCHQGSP
Housing Inventory: Active Listing Count Month-Over-Month in Minnesota
ACTLISCOUMMMN
All Employees: Manufacturing: Non-Durable Goods in Minnesota
SMU27000003200000001A
Administrative and Waste Services Earnings in Minnesota
MNEADM
Persons Unemployed 15 Weeks or Longer, as a Percent of the Civilian Labor Force for Minnesota
U1UNEM1MN
Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Minnesota
MEDLISPRIPERSQUFEEYYMN
Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Minnesota (MNOTRANEQMANNGSP), retrieved from FRED.