Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in North Carolina
NCOTHTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133.97
Year-over-Year Change
58.81%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in North Carolina measures the inflation-adjusted output of the transportation and logistics sectors in the state. This metric is a key indicator of economic activity and supply chain dynamics.
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) dollar value of goods and services produced by North Carolina's transportation and support industries, which include air, rail, water, and pipeline transportation, as well as warehousing and storage. It provides insight into the performance and underlying trends of these crucial economic sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and analysts monitor this metric to assess the health and competitiveness of North Carolina's logistics infrastructure and its impact on the broader state economy.
Key Facts
- North Carolina is a major transportation and logistics hub on the East Coast.
- This index captures a key component of the state's overall economic output.
- The transportation and support sectors account for over 5% of North Carolina's GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of North Carolina's transportation and support services industries, including air, rail, water, and pipeline transportation, as well as warehousing and storage.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and underlying trends of these crucial economic sectors, which are vital to North Carolina's overall economic competitiveness and growth.
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 analysts monitor this index to assess the health and competitiveness of North Carolina's logistics infrastructure and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month release lag.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in North Carolina (NCOTHTRANQGSP), retrieved from FRED.