Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Idaho
IDOTHTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
950.40
Year-over-Year Change
303.74%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the other transportation and support activities industry in Idaho. It provides insights into the performance and economic significance of this sector within the state.
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 Other Transportation and Support Activities (487-488, 492) in Idaho trend represents the GDP generated by industries such as support activities for transportation, couriers and messengers, and warehousing and storage. This metric is useful for analyzing the economic health and growth of the transportation and logistics sector in Idaho.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for states and industries.
Historical Context
This trend is relevant for policymakers, businesses, and economists to understand the dynamics of Idaho's transportation infrastructure and its role in the state's economy.
Key Facts
- Idaho's other transportation and support activities industry contributed $1.4 billion to the state's GDP in 2021.
- This sector has grown by 3.2% annually on average over the past 5 years.
- Transportation and logistics account for approximately 4% of Idaho's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the other transportation and support activities industry in the state of Idaho, including sectors like transportation support, couriers, and warehousing.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and significance of Idaho's transportation and logistics sector, which is crucial for understanding the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for states and industries.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, businesses, and economists to understand the dynamics of Idaho's transportation infrastructure and its role in the state's economy, informing decisions related to infrastructure investment, industry support, and economic development.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Idaho (IDOTHTRANNGSP), retrieved from FRED.