Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Florida
FLOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,659.40
Year-over-Year Change
53.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for other transportation and support activities in the state of Florida. It is a key indicator of economic activity and productivity in this 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
The Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Florida series tracks the inflation-adjusted output of businesses involved in air, rail, water, and road transportation services, as well as related support activities like logistics and warehousing. This data provides insight into the performance and trends within Florida's transportation and logistics industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This economic indicator is widely used by policymakers, industry analysts, and investors to assess the health and outlook of Florida's transportation sector and its broader economic implications.
Key Facts
- Florida's transportation and support activities account for over 6% of the state's total GDP.
- This sector has grown at an average annual rate of 2.5% over the past decade.
- Air transportation is the largest component, contributing nearly 40% of total activity in this industry group.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) for the other transportation and support activities industry group in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the performance and trends within Florida's transportation and logistics sectors, which are key drivers of the state's overall economic activity and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks and methodologies.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors closely monitor this indicator to assess the health and outlook of Florida's transportation sector and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Florida (FLOTHTRANRGSP), retrieved from FRED.