Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Maine
METRANSUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,436.70
Year-over-Year Change
3.71%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures real gross domestic product (GDP) for the transportation and utilities sector in Maine. It provides insights into the performance and growth of a key part of the state'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
The Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Maine series tracks the inflation-adjusted output of businesses in the transportation and utilities industries across the state. This metric is used by economists to assess the economic health and productivity of Maine's infrastructure and logistics sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using income and expenditure information from businesses.
Historical Context
Trends in this series are closely monitored by policymakers, investors, and industry analysts to inform decisions around economic development, infrastructure investment, and energy policy.
Key Facts
- Maine's transportation and utilities GDP was $5.7 billion in 2021.
- The sector accounts for about 6% of the state's total economic output.
- Real GDP in this sector grew by 3.1% in 2021 after declining in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the transportation and utilities sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: Tracking the performance of Maine's transportation and utilities sector provides important insights into the state's economic health and productivity, which is valuable for policymakers, investors, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using income and expenditure information from businesses in the transportation and utilities industries.
Q: How is this trend used in economic policy?
A: Trends in this series are closely monitored by policymakers to inform decisions around economic development, infrastructure investment, and energy policy in Maine.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Maine (METRANSUTILRGSP), retrieved from FRED.