Real Gross Domestic Product: Air Transportation (481) in Colorado
COAIRTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,397.90
Year-over-Year Change
142.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the air transportation industry in Colorado. It provides insights into the economic performance and growth of this key sector 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 Real Gross Domestic Product: Air Transportation (481) in Colorado series represents the inflation-adjusted value-added output of the air transportation industry, a major component of Colorado's economy. This metric is used by economists and policymakers to analyze the state's economic health and industry-specific trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in air transportation GDP are closely monitored by government agencies, airlines, and other stakeholders to inform economic and industry-specific policies.
Key Facts
- Colorado's air transportation GDP accounted for 2.3% of the state's total GDP in 2021.
- The air transportation industry employed over 25,000 workers in Colorado as of 2020.
- Real air transportation GDP in Colorado grew by 8.2% in 2021 following a pandemic-related decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the air transportation industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: The air transportation industry is a critical component of Colorado's economy, and trends in its GDP provide valuable insights into the state's overall economic performance and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Trends in air transportation GDP are closely monitored by government agencies, airlines, and other stakeholders to inform economic and industry-specific policies in Colorado.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Air Transportation (481) in Colorado (COAIRTRANRGSP), retrieved from FRED.