Gross Domestic Product: Transportation and Warehousing (48-49) in Maryland
MDTRANSWARENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,272.40
Year-over-Year Change
82.36%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Transportation and Warehousing (48-49) in Maryland trend measures the economic output of the transportation and warehousing sector in the state. It provides insights into a key component of Maryland's 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 real gross domestic product for the transportation and warehousing industry in Maryland. It is an important indicator of the state's logistics and supply chain activity, which are crucial for economic growth and global competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and business leaders monitor this trend to assess Maryland's transportation infrastructure and investment needs.
Key Facts
- Maryland's transportation and warehousing sector accounts for over 5% of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting Maryland's strategic location and investments.
- The COVID-19 pandemic had a significant impact on this sector, with sharp declines in 2020 followed by a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the transportation and warehousing industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into a key component of Maryland's economy, which is crucial for understanding the state's logistics, supply chain, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is 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 and business leaders monitor this trend to assess Maryland's transportation infrastructure and investment needs, which are critical for the state's economic growth and global competitiveness.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with some potential for delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Warehousing (48-49) in Maryland (MDTRANSWARENGSP), retrieved from FRED.