Real Gross Domestic Product: Pipeline Transportation (486) in North Carolina
NCPIPETRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.70
Year-over-Year Change
-3.83%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Pipeline Transportation (486) in North Carolina measures the inflation-adjusted economic output of the pipeline transportation industry within the state. This indicator provides insight into the health and growth of a critical energy infrastructure 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 Real Gross Domestic Product: Pipeline Transportation (486) in North Carolina represents the volume of goods and services produced by pipeline transportation companies in the state, adjusted for inflation. This metric is used by economists and policymakers to evaluate the performance and contribution of this industry to the broader state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry output and price indices.
Historical Context
This economic indicator helps inform decisions around energy policy, infrastructure investment, and economic development strategies.
Key Facts
- North Carolina's pipeline transportation industry accounts for 0.5% of the state's GDP.
- Real GDP from pipeline transportation in North Carolina grew by 2.8% in 2021.
- The pipeline transportation sector employs over 4,000 workers in North Carolina.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Pipeline Transportation (486) in North Carolina measures the inflation-adjusted economic output of the pipeline transportation industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and contribution of the pipeline transportation sector, which is a critical component of North Carolina's energy infrastructure and economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry output and price indices.
Q: How is this trend used in economic policy?
A: This economic indicator helps inform decisions around energy policy, infrastructure investment, and economic development strategies in North Carolina.
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, Real Gross Domestic Product: Pipeline Transportation (486) in North Carolina (NCPIPETRANRGSP), retrieved from FRED.