Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Oregon
ORTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
681.10
Year-over-Year Change
67.84%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator tracks the real gross domestic product (GDP) of the transit and ground passenger transportation industry in Oregon. It is a key measure of economic activity and productivity in this important transportation sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Oregon series represents the inflation-adjusted value added by this industry to the state's overall economic output. It is a useful indicator for monitoring trends in Oregon's transportation infrastructure and services.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
This metric helps policymakers and businesses assess the performance and investment needs of Oregon's passenger transportation systems.
Key Facts
- Oregon's transit and ground passenger transportation industry accounts for over 2% of the state's GDP.
- Real GDP in this sector grew by 3.2% in 2021 after declining in 2020 due to the COVID-19 pandemic.
- The industry employs over 20,000 workers in Oregon.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real (inflation-adjusted) gross domestic product (GDP) of the transit and ground passenger transportation industry in the state of Oregon.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the productivity and economic contribution of a critical transportation sector that supports Oregon's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and businesses can use this metric to assess the performance and investment needs of Oregon's passenger transportation systems.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Oregon (ORTRANGRNDTRANRGSP), retrieved from FRED.