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Correlations > Industry Statistics > Transportation equipment manufacturing > Value added

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

Correlations between Industry > Transportation equipment manufacturing > Value added ...

Variable Strength
...and  Industry > Transportation equipment manufacturing > Annual payroll 95% [plot | correlate | graph]
...and  Industry > Transportation equipment manufacturing > Total value of shipments 94% [plot | correlate | graph]
...and  Industry > Transportation equipment manufacturing > Production workers wages 92% [plot | correlate | graph]
...and  Labor > Transportation equipment manufacturing > Production workers hours 91% [plot | correlate | graph]
...and  Labor > Transportation equipment manufacturing > Number of employees 90% [plot | correlate | graph]
...and  Industry > Transportation equipment manufacturing > Total cost of materials 85% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Motor vehicle, body, trailer, and parts manufacturing 78% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Motor vehicle, body, trailer, and parts manufacturing 78% [plot | correlate | graph]
...and  Industry > Transportation equipment manufacturing > Total capital expenditures 76% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Motor vehicle, body, trailer, and parts manufacturing 71% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Primary metal manufacturing 70% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Primary metal manufacturing 70% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Primary metal manufacturing 67% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Production workers wages 64% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total capital expenditures 64% [plot | correlate | graph]
...and  Labor > Plastics & rubber products manufacturing > Production workers (average per year) 63% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials 62% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 62% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll 61% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments 61% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Plastics and rubber products manufacturing 61% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Production workers wages 59% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers hours 59% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 59% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total cost of materials 59% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers (average per year) 59% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments 58% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total capital expenditures 56% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Value added 55% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 55% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total cost of materials 55% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total value of shipments 54% [plot | correlate | graph]
...and  Industry > Transportation equipment manufacturing > Value added (per $ GDP) 53% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 53% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Annual payroll 53% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Motor vehicle, body, trailer, and parts manufacturing 53% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total capital expenditures 53% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Production workers wages 53% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Number of employees 53% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers (average per year) 52% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 52% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers hours 51% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total value of shipments 51% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 51% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 51% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added 50% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing 50% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing 50% [plot | correlate | graph]
...and  Industry > Transportation equipment manufacturing > Annual payroll (per capita) 50% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Value added 50% [plot | correlate | graph]
Average: 62%

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.

SOURCE: Annual Survey of Manufactures, 2004

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