Real Gross Domestic Product: Utilities (22) in Connecticut
CTUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,303.00
Year-over-Year Change
-18.40%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Utilities (22) in Connecticut measures the inflation-adjusted economic output of the utilities sector in the state. This key indicator provides insights into the health and productivity of an essential industry.
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 real value added by the utilities industry, which includes electric power, natural gas, water, and sewer services, to Connecticut's overall gross domestic product. Economists and policymakers use this data to assess the state's economic composition and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is relevant for understanding the role of utilities in Connecticut's economy and how it compares to national benchmarks.
Key Facts
- Connecticut's utilities sector accounted for 2.1% of the state's GDP in 2021.
- Real utilities GDP in Connecticut grew by 4.3% in 2021 compared to the prior year.
- The utilities industry is one of the most capital-intensive sectors of the Connecticut economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted economic output or real value added by the utilities sector, including electric power, natural gas, water, and sewer services, in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and productivity of an essential industry within Connecticut's economy, which is useful for economists, policymakers, and businesses to assess the state's economic composition and competitiveness.
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: This trend is relevant for understanding the role of the utilities sector in Connecticut's economy and how it compares to national benchmarks, which can inform policy decisions and investments in the state's infrastructure and energy systems.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with typical update delays of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Utilities (22) in Connecticut (CTUTILRGSP), retrieved from FRED.