Economic Principles Macroeconomics report assignment 2-3 page

Assignment 2: Final Report
Economic Principles Macroeconomics Report Assignment
Strayer University
ECO100
Instructor
Date
Automobile Manufacturing (NAICS: 336111) focuses on the manufacture of automobile body and chassis or unibody that is complete and the automobile chassis (US Census, 2020). The chassis of a car is its base component, and all other parts are integrated on or inside the chassis. The US Census Bureau reports on the value of shipments for automobile manufacturing on a quarterly and annual basis. The car manufacturing process and industry involves an assembly where automobiles are primarily manufactured elsewhere to produce various sub-assemblies. A vehicle’s production plant is an active point of assembly where skilled workers and robot systems put together all the separate necessary components to create the final product. There is an increase in sales and shipment of car units and parts when the economy is thriving and vice versa.
The Real Gross Domestic Product (GDP), in billions of chained 2012) dollars, increased in the past five years and was $17,432.2 billion in 2015 and increased to $19,091.7 billion in 2019. Personal consumption accounted for 67% to 70 % of the real GDP in the years 2015-2019. When considering the percent in Real Gross Domestic Product from the preceding period, it was 1.8% in 2016, the lowest in the period 2015-2019. The change in real GDP was 3.1% in 2015, but then the growth rate slowed down to 1.7% in 2016 and was 2.2% in 2019. There was a negative growth rate of exported goods and services in 2019, while there was an increase in imports.
 

2014

2015

2016

2017

2018

2019

Motor vehicles, bodies and trailers, and parts

9.8

6.2

3.7

-1.2

5.9

4

Percent Changes in Chain-Type Quantity Indexes for Gross Output by Industry
Source: https://apps.bea.gov/iTable/iTable.cfm?isuri=1&reqid=19&step=2&0=survey
 

2014

2015

2016

2017

2018

2019

Manufacturing

5983.2

6016.3

6019.2

6035.6

6204.8

6297.9

Motor vehicles, bodies and trailers, and parts

616.3

654.3

678.3

670.3

710

738.2

[Billions of 2012 chain dollars]
Source: https://apps.bea.gov/iTable/iTable.cfm?reqid=150&step=2&isuri=1&categories=gdpxind
The motor vehicles, bodies, and trailers, increased by 9.8% in 2014, but then declined up to 2017 where there was negative growth in the industry output as the gross output was $ 678.3 million in 20116, but $ 670.3 billion in 2017 in 2019, ...