Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Maine
METRANSUTILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.43
Year-over-Year Change
3.71%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Maine measures the real output of the transportation and utilities sectors in the state. This indicator provides insights into a key part of Maine's economic activity and is used by policymakers and analysts to assess the state's economic performance.
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 index tracks the real, inflation-adjusted output of industries classified under the North American Industry Classification System (NAICS) codes 22 (Utilities) and 48-49 (Transportation and Warehousing) in the state of Maine. It is an important gauge of activity in essential infrastructure sectors that support broader economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and economists analyze this index to understand trends in Maine's transportation and utilities sectors and their contribution to the state's overall economic performance.
Key Facts
- Maine's transportation and utilities sectors account for over 10% of the state's real GDP.
- The index uses 2012 as the base year with a value of 100.
- The index reached a high of 108.76 in 2018 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the transportation and utilities sectors in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into key infrastructure industries that support broader economic activity in Maine, making it useful for policymakers and economists analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this index to understand trends in Maine's transportation and utilities sectors and their contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Maine (METRANSUTILQGSP), retrieved from FRED.