FACTOID # 1: Puerto Rico has roughly the same gross state product as Montana, Wyoming and North Dakota combined.
 
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Correlations > Economy Statistics > GSP > Real GSP > Electrical equipment and appliance manufacturing

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Correlations between Economy > GSP > Real GSP > Electrical equipment and appliance manufacturing ...

Variable Strength
...and  Economy > GSP > Nominal GSP > Electrical equipment and appliance manufacturing 100% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total value of shipments 94% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Electrical equipment and appliance manufacturing 93% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Value added 91% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total cost of materials 89% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Electrical equipment and appliance manufacturing 89% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total capital expenditures 89% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Annual payroll 83% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Production workers wages 80% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Plastics and rubber products manufacturing 78% [plot | correlate | graph]
...and  Labor > Paper manufacturing > Production workers hours 76% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments 75% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing 75% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing 75% [plot | correlate | graph]
...and  Labor > Electrical equipment, appliance, & component manufacturing > Number of employees 75% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total cost of materials 75% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials 74% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Value added 73% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll 73% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments 72% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Paper manufacturing 71% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 71% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees 71% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total capital expenditures 71% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 69% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 69% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Total cost of materials 69% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 69% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 68% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 68% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Annual payroll 68% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total capital expenditures 67% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Total value of shipments 67% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Fabricated metal product manufacturing 66% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Annual payroll 66% [plot | correlate | graph]
...and  Labor > Plastics & rubber products manufacturing > Production workers (average per year) 66% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll 66% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Production workers wages 65% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 65% [plot | correlate | graph]
...and  Labor > Paper manufacturing > Production workers (average per year) 65% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Plastics and rubber products manufacturing 65% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers hours 64% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added 64% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Nonmetallic mineral product manufacturing 63% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Value added 63% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Food product manufacturing 63% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Machinery manufacturing 63% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Production workers wages 62% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Truck transportation 62% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Machinery manufacturing 62% [plot | correlate | graph]
Average: 72%

About Correlations:

A correlation is a statistical measure of similarity between at least two given sets of data. StateMaster's correlations compare two variables from our database and reveal statistical relationships between them. The percentages you see represent the strength (or likelihood) that a change in the topic variable is matched by a change in the listed variables below it. But remember: These correlations do not imply causation, that is, one does not necessarily cause the other. Also, not all variables contain all states, rather subsets of states matched together.

VIEW FOR THIS VARIABLE:

NOTES:

  • Outliers have been removed only where they are outside 3 standard deviations of the mean.
  • Only variable pairs where at least 15 states match for each have been considered.
  • Strength is given by the correlation coefficient (R squared). It is the fraction of variation in Y that can be attributed to the variation in X. 100% signifies a perfect fit (R squared of 1). The top 50 such stats are displayed


DEFINITION: Electrical equipment and appliance manufacturing, Real GSP (chained 2000 dollars) GSP, or Gross State Product is the value of all the goods and services produced in a state. Specific industries measured will give the value of all goods and services in that industry. The Nominal Gross State Product measures the value of all the goods and services produced expressed in current prices. On the other hand, Real Gross State Product measures the value of all the goods and services produced expressed in the prices of some base year.

SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.

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