Gross Domestic Product: Transportation and Utilities (22, 48-49) in the Great Lakes BEA Region
GLAKTRANSUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
197,307.30
Year-over-Year Change
73.30%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the Gross Domestic Product (GDP) of the transportation and utilities sectors in the Great Lakes Bureau of Economic Analysis (BEA) region. It provides insight into the economic activity and performance of these key industries.
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 Gross Domestic Product: Transportation and Utilities (22, 48-49) in the Great Lakes BEA Region is a measure of the total economic output generated by the transportation and utilities sectors within the Great Lakes geographical area. This data helps analysts and policymakers understand the region's economic composition and trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This indicator is used to assess the economic health and competitiveness of the Great Lakes region, informing policy decisions and market analysis.
Key Facts
- The Great Lakes region accounts for about 20% of U.S. GDP.
- Transportation and utilities make up around 10% of the region's GDP.
- This indicator has been tracked since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total economic output or Gross Domestic Product (GDP) of the transportation and utilities sectors within the Great Lakes Bureau of Economic Analysis (BEA) region.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic performance and competitiveness of key industries in the Great Lakes region, informing policy decisions and market analysis.
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 principles.
Q: How is this trend used in economic policy?
A: This indicator is used to assess the economic health and competitiveness of the Great Lakes region, which can inform policy decisions related to infrastructure, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but may have a delay of several months compared to the current period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Utilities (22, 48-49) in the Great Lakes BEA Region (GLAKTRANSUTILNGSP), retrieved from FRED.