Gross Domestic Product: Transportation and Utilities (22, 48-49) in Illinois
ILTRANSUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69,840.00
Year-over-Year Change
76.96%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Transportation and Utilities (22, 48-49) in Illinois measures the economic output of the transportation and utilities sectors in the state. This data provides insights into the performance and health of these key industries within the Illinois 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 inflation-adjusted value added by the transportation and utilities industries in Illinois. It is an important indicator of economic activity and investment in the state's critical infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This GDP by industry metric is closely monitored by policymakers, economists, and businesses to assess the state's economic conditions and growth potential.
Key Facts
- Illinois GDP accounts for 4.5% of the total U.S. GDP.
- The transportation and utilities sector represents 8.1% of Illinois' GDP.
- This metric has grown by 2.3% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted value added by the transportation and utilities industries in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and health of Illinois' critical infrastructure sectors, which are key drivers of economic growth 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 principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor this GDP by industry metric to assess Illinois' economic conditions and growth potential, informing decision-making and investment strategies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Bureau of Economic Analysis, with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Utilities (22, 48-49) in Illinois (ILTRANSUTILNGSP), retrieved from FRED.