Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Minnesota
MNTRUCKTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.98
Year-over-Year Change
19.93%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Minnesota measures the real, inflation-adjusted output of the truck transportation industry in the state. This metric is a key indicator of economic activity and productivity in the transportation sector.
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 Chain-Type Quantity Index is a type of price index that tracks real output over time, allowing for changes in the composition of goods and services. This series specifically focuses on the truck transportation industry, a critical component of Minnesota's economy and logistics infrastructure.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained volume index approach.
Historical Context
Policymakers and analysts monitor this trend to assess the health and performance of Minnesota's transportation and logistics industries.
Key Facts
- The index is based on 2012 as the reference year.
- Truck transportation accounts for over 3% of Minnesota's GDP.
- The index reached a record high in 2021 following the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the truck transportation industry in the state of Minnesota. It tracks changes in the industry's productivity and economic contribution over time.
Q: Why is this trend relevant for users or analysts?
A: The truck transportation industry is a critical component of Minnesota's economy, and this index provides a valuable indicator of activity and performance in this key sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained volume index approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the health and performance of Minnesota's transportation and logistics industries, which are crucial for the state's economic growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Minnesota (MNTRUCKTRANQGSP), retrieved from FRED.