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Correlations > Industry Statistics > Furniture & related product manufacturing > Value added (per $ GDP)

DEFINITION: This measure of manufacturing activity is derived by subtracting the cost of materials, supplies, containers, fuel, purchased electricity, and contract work from the value of shipments (products manufactured plus receipts for services rendered). The result of this calculation is adjusted by the addition of value added by merchandising operations (i.e., the difference between the sales value and the cost of merchandise sold without further manufacture, processing, or assembly) plus the net change in finished goods and work-in-process between the beginning- and end-of-year inventories. Per $ GDP figures expressed per 1,000 $ gross domestic product.
VIEW DATA:   Totals   Per $ GDP  
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Showing latest available data.

Correlations between Industry > Furniture & related product manufacturing > Value added (per $ GDP) ...

Variable Strength
...and  Economy > GSP > Nominal GSP > Furniture and related product manufacturing (per $ GDP) 87% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Furniture and related product manufacturing (per $ GDP) 86% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Total value of shipments (per $ GDP) 86% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Furniture and related product manufacturing (per capita) 83% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Furniture and related product manufacturing (per capita) 82% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Total cost of materials (per $ GDP) 74% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Number of employees (per capita) 67% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Production workers (average per year) (per capita) 66% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Production workers wages (per $ GDP) 56% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Annual payroll (per $ GDP) 55% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Production workers hours (per capita) 51% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Annual payroll (per capita) 51% [plot | correlate | graph]
...and  Industry > Textile mills > Total capital expenditures (per $ GDP) 49% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Furniture and related product manufacturing (per $ GDP) 45% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Total capital expenditures (per $ GDP) 45% [plot | correlate | graph]
...and  Industry > Textile mills > Annual payroll 43% [plot | correlate | graph]
...and  Labor > Textile mills > Production workers hours 42% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Furniture and related product manufacturing (per capita) 42% [plot | correlate | graph]
...and  Industry > Textile mills > Annual payroll (per $ GDP) 41% [plot | correlate | graph]
...and  Industry > Textile mills > Total capital expenditures 41% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages (per $ GDP) 40% [plot | correlate | graph]
...and  Labor > Percent of Civilian Employed People in the Manufacturing Industry 40% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees (per capita) 38% [plot | correlate | graph]
...and  Industry > Textile mills > Production workers wages 37% [plot | correlate | graph]
...and  Industry > Textile mills > Annual payroll (per capita) 37% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Value added 36% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll (per $ GDP) 36% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Total value of shipments 34% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added (per $ GDP) 34% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours (per capita) 34% [plot | correlate | graph]
...and  Labor > Plastics & rubber products manufacturing > Number of employees (per capita) 33% [plot | correlate | graph]
...and  Industry > Textile mills > Total cost of materials 32% [plot | correlate | graph]
...and  Industry > Textile mills > Total value of shipments 31% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Total cost of materials 30% [plot | correlate | graph]
...and  Labor > Textile mills > Number of employees 30% [plot | correlate | graph]
...and  Industry > Textile mills > Value added 30% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll (per capita) 30% [plot | correlate | graph]
...and  Labor > Textile mills > Production workers (average per year) 29% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Furniture and related product manufacturing 28% [plot | correlate | graph]
...and  Labor > Transportation equipment manufacturing > Production workers hours (per capita) 28% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Food product manufacturing (per $ GDP) 28% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Food product manufacturing (per $ GDP) 28% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers (average per year) (per capita) 28% [plot | correlate | graph]
...and  Industry > Transportation equipment manufacturing > Total capital expenditures (per $ GDP) 28% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Furniture and related product manufacturing 28% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Furniture and related product manufacturing 28% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Nonmetallic mineral product manufacturing (per capita) 26% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Nonmetallic mineral product manufacturing (per capita) 26% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Furniture and related product manufacturing 25% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Production workers wages (per $ GDP) 25% [plot | correlate | graph]
Average: 43%

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

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