Real Gross Domestic Product: Truck Transportation (484) in Connecticut
CTTRUCKTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,008.90
Year-over-Year Change
27.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Truck Transportation (484) in Connecticut' series measures the real output of the truck transportation industry in Connecticut, adjusted 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 economic trend represents the contribution of the truck transportation sector to Connecticut's overall economic activity. It is an important indicator for transportation logistics, infrastructure planning, and supply chain analysis.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This metric is used by policymakers, planners, and businesses to understand transportation demand and investment needs in the state.
Key Facts
- Connecticut's truck transportation industry accounts for over 3% of the state's GDP.
- Real truck transportation GDP in Connecticut grew by 4.2% in 2021.
- Trucking is a major employer in Connecticut, with over 45,000 workers in the industry.
FAQs
Q: What does this economic trend measure?
A: This series measures the real output or gross domestic product (GDP) of the truck transportation industry in Connecticut, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of transportation activity, infrastructure needs, and supply chain dynamics in the state.
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 estimates.
Q: How is this trend used in economic policy?
A: Policymakers, planners, and businesses use this metric to understand transportation demand and inform infrastructure investment decisions in Connecticut.
Q: Are there update delays or limitations?
A: There is typically a 1-2 quarter delay in the release of this data by the government statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Truck Transportation (484) in Connecticut (CTTRUCKTRANRGSP), retrieved from FRED.