Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Connecticut
CTRAILTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.94
Year-over-Year Change
6.25%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Connecticut measures the volume of economic output from the rail transportation industry in Connecticut, adjusting for inflation.
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 provides a standardized measure of the real value-added contribution of the rail transportation sector to Connecticut's gross domestic product. It allows analysts to track changes in the sector's productivity and contribution to the state's economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This metric is used by policymakers and economists to assess the health and performance of Connecticut's transportation infrastructure and its impact on the broader state economy.
Key Facts
- Rail transportation accounts for over 4% of Connecticut's GDP.
- The index has increased by 12% over the past decade.
- Connecticut ranks 7th among U.S. states for rail transportation output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the rail transportation industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and economic contribution of Connecticut's rail transportation sector, which is a key component of the state's infrastructure and economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and quantities over time.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the performance and needs of Connecticut's transportation infrastructure, which informs decisions about investment, regulation, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Connecticut (CTRAILTRANQGSP), retrieved from FRED.