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CEDBR is introducing two new measures of the national aerospace manufacturing industry, the Aerospace Current Conditions Index and the Aerospace Growth Index. Both indices are based on five indicators of the aerospace manufacturing industry: the national aerospace industrial production index, aerospace manufacturing employment, real civilian aircraft exports, real national defense investment in aircraft, and average hourly earnings of aerospace workers.
The Aerospace Current Conditions Index is designed to measure the current level of activity in the national aerospace industry and is set to equal 100 in 2012. Values higher than 100 are caused by increases in the indicators that comprise the index, relative to 2012, while values less than 100 signify the indicators hold lower values than they did in 2012.
The Aerospace Growth Index measures the growth in the Aerospace Current Conditions Index, using year over year growth in a four-quarter average of the Current Conditions Index values.