Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Maine
MEWATTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
192.11
Year-over-Year Change
-25.78%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Maine measures the real output of the water transportation industry in the state. This trend is important for economists and policymakers to understand regional economic activity and productivity.
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 quantity of goods and services produced by the water transportation industry in Maine, adjusting for inflation. It provides insights into the state's maritime economy and can be used to analyze industry-specific and regional economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula.
Historical Context
This trend is relevant for assessing the health of Maine's maritime and logistics sectors and informing economic development policies.
Key Facts
- Maine's water transportation industry accounts for a significant portion of the state's GDP.
- The Chain-Type Quantity Index has shown steady growth in Maine's water transportation sector over the past decade.
- Real GDP from water transportation is an important indicator of Maine's maritime economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output or quantity of goods and services produced by the water transportation industry in Maine, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and productivity of Maine's maritime economy, which is an important sector for the state's overall economic growth and development.
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 index formula.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and economic development officials in Maine to assess the health of the state's maritime and logistics sectors and inform policies that support these industries.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule of the U.S. Bureau of Economic Analysis, which may result in occasional update delays.
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Citation
U.S. Bureau of Economic Analysis, Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Maine (MEWATTRANQGSP), retrieved from FRED.