Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in North Carolina
NCTRANSUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,482.70
Year-over-Year Change
25.47%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the real gross domestic product (GDP) of the transportation and utilities sector in North Carolina. It is a key indicator of the state's economic performance and productivity in these critical industries.
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: Transportation and Utilities (22, 48-49) in North Carolina series provides a comprehensive measure of the inflation-adjusted economic output generated by the transportation and utilities industries within the state. It is used by analysts and policymakers to assess trends in these sectors and their contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This metric helps inform policy decisions and investment strategies related to infrastructure, energy, and economic development in North Carolina.
Key Facts
- North Carolina's transportation and utilities sector accounts for over 10% of the state's total GDP.
- Real GDP in this sector has grown by an average of 2.5% annually over the past decade.
- The transportation and utilities industries employ more than 300,000 people in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) generated by the transportation and utilities industries in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the performance and contribution of two critical sectors to North Carolina's overall economic output and productivity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This metric helps inform policy decisions and investment strategies related to infrastructure, energy, and economic development in North Carolina.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month lag and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in North Carolina (NCTRANSUTILRGSP), retrieved from FRED.