Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Utah
UTMVEHMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.32
Year-over-Year Change
29.55%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the chain-type quantity index for real GDP in the motor vehicles, bodies and trailers, and parts manufacturing sector in Utah. It provides insights into the production and growth dynamics of this key industry 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 chain-type quantity index for real GDP tracks changes in the inflation-adjusted total output of the motor vehicles, bodies and trailers, and parts manufacturing industry in Utah. This metric is used by economists and policymakers to analyze the performance and competitiveness of this important manufacturing segment.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on surveys and economic reports.
Historical Context
This trend is closely monitored by state and federal agencies to inform economic policies and investment decisions.
Key Facts
- Utah's motor vehicle manufacturing sector accounts for over 10% of the state's GDP.
- The industry employs more than 20,000 workers in the state.
- The chain-type quantity index has grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the motor vehicles, bodies and trailers, and parts manufacturing sector in Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the production and growth dynamics of a key manufacturing industry within Utah's economy, which is crucial information for economists, policymakers, and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on surveys and economic reports.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal agencies to inform economic policies and investment decisions related to the motor vehicle manufacturing industry.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the Federal Reserve, with minimal update delays.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in Utah (UTMVEHMANQGSP), retrieved from FRED.