Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Connecticut
CTOTHTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.00
Year-over-Year Change
35.57%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Connecticut measures the real economic output of the transportation and logistics sector in 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
This index tracks the volume of goods and services produced by Connecticut's other transportation and support activities, which includes pipeline transportation, scenic and sightseeing transportation, and support activities for transportation. It is a key indicator of economic activity and productivity in this crucial industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive measures of state-level real GDP.
Historical Context
This index helps policymakers and analysts assess the health and performance of Connecticut's transportation infrastructure and logistics networks.
Key Facts
- Connecticut's transportation and support sector accounts for over 4% of the state's total real GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a 6.2% decline in this index in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Connecticut's transportation and support activities sector, including pipeline, scenic, and logistics services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and growth of a critical industry that underpins Connecticut's broader economic performance.
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 their comprehensive state-level GDP accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess the health of Connecticut's transportation infrastructure and logistics networks, which are vital to the state's economy.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately two to three months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Connecticut (CTOTHTRANQGSP), retrieved from FRED.