Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Connecticut
CTTRANSUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,337.90
Year-over-Year Change
5.22%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the transportation and utilities sectors in Connecticut. It provides important insights into the performance and productivity of these vital economic activities.
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: Transportation and Utilities (22, 48-49) in Connecticut series represents the chained-dollar, inflation-adjusted GDP originating from the transportation and utilities industries in the state. This metric is crucial for analyzing the economic health and productivity of these sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and economists use this trend to gauge the strength of Connecticut's transportation infrastructure and utilities, which are critical for supporting broader economic growth.
Key Facts
- Connecticut's transportation and utilities sectors account for over 7% of the state's total GDP.
- This trend has shown steady growth since the early 2000s, reflecting investments in infrastructure and technology.
- The COVID-19 pandemic caused a temporary decline in 2020 due to reduced economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) originating from the transportation and utilities sectors in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and productivity of Connecticut's critical transportation and utilities infrastructure, which support broader economic growth in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of Connecticut's transportation and utilities sectors, which are essential for supporting the state's overall economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several 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: Transportation and Utilities (22, 48-49) in Connecticut (CTTRANSUTILRGSP), retrieved from FRED.