Gross Domestic Product: Warehousing and Storage (493) in Connecticut
CTWARESTORNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,461.60
Year-over-Year Change
140.95%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Warehousing and Storage (493) in Connecticut measures the economic output of the warehousing and storage industry in the state. This metric is important for economists and policymakers to understand industry-level trends and the broader state economy.
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 value added by the warehousing and storage industry in Connecticut's GDP. It provides insight into the performance and contribution of this sector to the overall state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Analysts and policymakers use this metric to evaluate the health and growth of Connecticut's logistics and distribution sectors.
Key Facts
- Connecticut's warehousing and storage GDP was $2.7 billion in 2021.
- This industry accounts for 1.3% of Connecticut's total economic output.
- Warehousing and storage GDP in Connecticut has grown by 15% since 2016.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or value added by the warehousing and storage industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and contribution of the logistics and distribution sectors to Connecticut's overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounting principles.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to evaluate the health and growth of Connecticut's warehousing and storage industry, which is important for the state's logistics and distribution sectors.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Warehousing and Storage (493) in Connecticut (CTWARESTORNGSP), retrieved from FRED.