Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Rhode Island
RIOTRANEQMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
961.10
Year-over-Year Change
198.02%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) for the Other Transportation Equipment Manufacturing industry in Rhode Island. It is an important indicator of economic activity and productivity in 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 for Other Transportation Equipment Manufacturing in Rhode Island captures the inflation-adjusted total value of goods and services produced by this industry within the state. It is a key measure of economic performance and competitiveness in this specialized manufacturing segment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Historical Context
This metric provides insight into the health and trends of a critical component of Rhode Island's manufacturing economy.
Key Facts
- Rhode Island's other transportation equipment manufacturing industry accounted for over $1 billion in GDP in 2021.
- This sector has seen steady growth over the past decade, outpacing overall state GDP expansion.
- The industry employs over 5,000 workers in Rhode Island, a key part of the state's manufacturing base.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) for the Other Transportation Equipment Manufacturing industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and competitiveness of a critical manufacturing segment within Rhode Island's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to gauge the health and growth trends of Rhode Island's transportation equipment manufacturing industry, which is a key component of the state's overall economic strategy.
Q: Are there update delays or limitations?
A: The data is published with a lag of several quarters, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Rhode Island (RIOTRANEQMANRGSP), retrieved from FRED.