Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Alabama
ALOTHTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,021.20
Year-over-Year Change
119.46%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the other transportation and support activities sector in Alabama. It provides insight into the economic performance and growth of this industry within the state.
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 Other Transportation and Support Activities industry encompasses activities such as air, rail, water, and road transportation services, as well as related support services. This metric allows analysts to gauge the economic significance and trends within this important component of Alabama's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by state program.
Historical Context
This economic indicator is utilized by policymakers, economists, and industry stakeholders to monitor and assess the health and trajectory of Alabama's transportation and logistics sector.
Key Facts
- Alabama's other transportation and support activities sector accounted for 3.2% of the state's GDP in 2021.
- This industry grew by 6.8% in Alabama between 2020 and 2021.
- The transportation and logistics sector is a key driver of economic activity in many regions of Alabama.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the other transportation and support activities sector in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and growth of a key industry within Alabama, allowing analysts to gauge the significance and trends in the state's transportation and logistics sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by state program.
Q: How is this trend used in economic policy?
A: This economic indicator is utilized by policymakers, economists, and industry stakeholders to monitor and assess the health and trajectory of Alabama's transportation and logistics sector, which is crucial for the state's overall economic development.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period, but provides a comprehensive and reliable measure of the transportation and support activities industry in Alabama.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Alabama (ALOTHTRANNGSP), retrieved from FRED.