Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Montana
MTTRANGRNDTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159.02
Year-over-Year Change
40.56%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Montana measures the real output of the transportation industry in the state. This trend is important for economists and policymakers to understand the health and productivity of this key economic 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
This index tracks the volume of real GDP produced by the transit and ground passenger transportation industry in Montana. It allows analysts to assess changes in the sector's productivity and contributions to the state's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using fixed-weighted quantity indexes.
Historical Context
Policymakers and industry analysts monitor this index to gauge the transportation sector's role in Montana's economy.
Key Facts
- The index is benchmarked to 2012 = 100.
- Transportation accounted for 3.4% of Montana's GDP in 2021.
- The index reached a high of 106.0 in 2019 before declining due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the transit and ground passenger transportation industry in Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric helps economists and policymakers assess the productivity and contributions of the transportation sector to Montana's 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 fixed-weighted quantity indexes.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this index to gauge the transportation sector's role in Montana's economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Montana (MTTRANGRNDTRANQGSP), retrieved from FRED.