Real Gross Domestic Product: Truck Transportation (484) in Colorado
COTRUCKTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,101.20
Year-over-Year Change
9.86%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Truck Transportation (484) in Colorado trend measures the real output of the truck transportation industry in the state. This metric is a key indicator of economic activity and productivity in the 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: Truck Transportation (484) in Colorado trend represents the inflation-adjusted value added by the truck transportation industry to the state's overall economic output. This measure helps analysts and policymakers assess the health and competitiveness of Colorado's logistics and supply chain infrastructure.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Historical Context
Trends in Colorado's truck transportation GDP are closely monitored by state and federal transportation planners, logistics firms, and economic development agencies.
Key Facts
- Colorado's truck transportation GDP accounts for over 3% of the state's total economic output.
- Truck transportation GDP in Colorado grew by 4.2% in 2021 compared to the prior year.
- The truck transportation industry employs over 75,000 workers in Colorado.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Truck Transportation (484) in Colorado trend measures the real, inflation-adjusted value added by the truck transportation industry to the state's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health and competitiveness of Colorado's logistics and supply chain infrastructure, which is crucial for supporting the state's broader economic activities.
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 statistics.
Q: How is this trend used in economic policy?
A: Trends in Colorado's truck transportation GDP are closely monitored by state and federal transportation planners, logistics firms, and economic development agencies to inform infrastructure investments and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Truck Transportation (484) in Colorado (COTRUCKTRANRGSP), retrieved from FRED.