Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Ohio
OHMVEHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,034.10
Year-over-Year Change
33.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the motor vehicles, bodies and trailers, and parts manufacturing industry in Ohio. It provides insight into the performance and importance of this key manufacturing sector within the state's economy.
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 OHMVEHMANNGSP series tracks the total inflation-adjusted GDP generated by establishments primarily engaged in motor vehicle, body, trailer, and parts manufacturing in Ohio. This data is used by economists and policymakers to analyze the health and competitiveness of Ohio's automotive manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level production and price indices.
Historical Context
This trend is closely monitored by state and federal officials to gauge the impact of economic policies, trade, and other factors on Ohio's critical automotive manufacturing sector.
Key Facts
- Ohio is a top U.S. state for automotive manufacturing.
- The motor vehicles industry accounts for over 10% of Ohio's GDP.
- This sector employs more than 100,000 workers in Ohio.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total inflation-adjusted gross domestic product (GDP) contribution of the motor vehicles, bodies and trailers, and parts manufacturing industry in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the performance and economic importance of Ohio's critical automotive manufacturing sector, which is closely watched 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 production and price indices for the motor vehicles, bodies and trailers, and parts manufacturing industry in Ohio.
Q: How is this trend used in economic policy?
A: State and federal officials monitor this trend to assess the impact of economic policies, trade, and other factors on Ohio's automotive manufacturing sector, which is a major driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Ohio (OHMVEHMANNGSP), retrieved from FRED.