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Correlations > Industry Statistics > Primary metal manufacturing > Value added (per $ GDP)

VIEW DATA:   Totals   Per $ GDP  
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Showing latest available data.

Correlations between Industry > Primary metal manufacturing > Value added (per $ GDP) ...

Variable Strength
...and  Industry > Primary metal manufacturing > Total value of shipments (per $ GDP) 97% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total cost of materials (per $ GDP) 93% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Primary metal manufacturing (per $ GDP) 92% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Primary metal manufacturing (per $ GDP) 92% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Primary metal manufacturing (per capita) 87% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Primary metal manufacturing (per capita) 87% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total capital expenditures (per $ GDP) 84% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers hours (per capita) 83% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Production workers wages (per $ GDP) 80% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers (average per year) (per capita) 69% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Annual payroll (per $ GDP) 64% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Primary metal manufacturing (per $ GDP) 59% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total cost of materials 56% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total value of shipments 54% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials (per $ GDP) 53% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total capital expenditures 53% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Motor vehicle, body, trailer, and parts manufacturing (per $ GDP) 52% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Motor vehicle, body, trailer, and parts manufacturing (per $ GDP) 52% [plot | correlate | graph]
...and  Energy > Electric Power Industry Emissions > NOx (per $ GDP) 52% [plot | correlate | graph]
...and  Energy > Electric Power Industry Emissions > NOx (per capita) 52% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Motor vehicle, body, trailer, and parts manufacturing (per capita) 50% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Motor vehicle, body, trailer, and parts manufacturing (per capita) 50% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages (per $ GDP) 50% [plot | correlate | graph]
...and  Energy > Electric Power Industry Emissions > SO2 (per $ GDP) 49% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Value added 49% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments (per $ GDP) 47% [plot | correlate | graph]
...and  Energy > Electric Power Industry Emissions > SO2 (per capita) 46% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Primary metal manufacturing (per capita) 44% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Production workers wages 43% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing (per $ GDP) 43% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Annual payroll (per capita) 43% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll (per $ GDP) 42% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added (per $ GDP) 42% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Primary metal manufacturing 42% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Primary metal manufacturing 42% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Production workers wages (per $ GDP) 42% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Total capital expenditures (per $ GDP) 41% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers hours 40% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total capital expenditures (per $ GDP) 40% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Primary metal manufacturing 40% [plot | correlate | graph]
...and  Energy > Coal Consumption (per $ GDP) 40% [plot | correlate | graph]
...and  Health > Percent of Women with Arthritis 40% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Number of employees (per capita) 39% [plot | correlate | graph]
...and  Labor > Percent of Civilian Employed People in the Manufacturing Industry 38% [plot | correlate | graph]
...and  Energy > Electric Power Industry Emissions > CO2 (per capita) 37% [plot | correlate | graph]
...and  Energy > Coal Consumption (per capita) 36% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers (average per year) 36% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added (per $ GDP) 36% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Annual payroll 36% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total value of shipments (per $ GDP) 35% [plot | correlate | graph]
Average: 53%

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: 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 100 $ gross domestic product.

SOURCE: Annual Survey of Manufactures, 2004

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