Real Gross Domestic Product: Transportation and Warehousing (48-49) in Connecticut
Annual, Not Seasonally Adjusted
CTTRANSWARERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,046.80
Year-over-Year Change
34.88%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures real gross state product for the transportation and warehousing industry in Connecticut. This key economic indicator provides insight into the productivity and growth of this vital 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 total inflation-adjusted economic output or value added by businesses in the transportation and warehousing industry within the state of Connecticut. It is a widely-used metric for analyzing regional economic performance and industry-level trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of source data on industry revenues, expenses, and employment.
Historical Context
Transportation and warehousing activity is closely watched by policymakers and market analysts as a barometer of logistics, trade, and broader economic conditions.
Key Facts
- Connecticut's transportation and warehousing industry accounts for over 4% of the state's total economic output.
- This sector has seen steady growth of around 2-3% annually over the past decade.
- Logistics and distribution hubs are a key competitive advantage for the Connecticut economy.
FAQs
Q: What does this economic trend measure?
A: This series tracks the real gross state product or total economic output of the transportation and warehousing industry in Connecticut.
Q: Why is this trend relevant for users or analysts?
A: Transportation and logistics are crucial drivers of regional economic activity, so this metric provides important insights into productivity, competitiveness, and growth prospects for this vital industry sector.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Bureau of Economic Analysis using a variety of source data on industry revenues, expenses, and employment.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor transportation and warehousing activity as a barometer of logistics, trade, and broader economic conditions within the state.
Q: Are there update delays or limitations?
A: This series is published annually with a lag of approximately 12-18 months, so the most recent data may not fully reflect the current economic environment.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (CTTRANSWARERGSP), retrieved from FRED.