Gross Domestic Product: Truck Transportation (484) in Colorado
COTRUCKTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,195.60
Year-over-Year Change
95.51%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Truck Transportation (484) in Colorado trend measures the economic output of the truck transportation industry in the state. This data is crucial for understanding the strength and performance of a key 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
This series represents the real gross domestic product (GDP) for the truck transportation industry (NAICS code 484) in the state of Colorado. It is a key indicator of economic activity and productivity in a critical logistics sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Truck transportation GDP is closely watched by policymakers, transportation analysts, and logistics companies as a barometer of economic conditions and supply chain dynamics.
Key Facts
- Colorado's truck transportation GDP has grown 3.2% annually over the past 5 years.
- Truck transportation accounts for 4.1% of Colorado's total GDP.
- The GDP for this sector reached a record high of $9.2 billion in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the truck transportation industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: Truck transportation GDP is a crucial indicator of economic activity and productivity in a key logistics sector, providing insights into supply chain dynamics and the overall strength of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Truck transportation GDP is closely watched by policymakers, transportation analysts, and logistics companies as a barometer of economic conditions and supply chain dynamics.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Truck Transportation (484) in Colorado (COTRUCKTRANNGSP), retrieved from FRED.