Real Gross Domestic Product: Transportation and Warehousing (48-49) in North Dakota
NDTRANSWARERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,393.60
Year-over-Year Change
-18.08%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures real gross domestic product (GDP) for the transportation and warehousing industry in North Dakota. It provides insights into the performance and productivity of this critical sector within the state's economy.
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 Warehousing (48-49) in North Dakota series tracks the value-added output of businesses in the transportation and warehousing industry, adjusted for inflation. This data is a key indicator of economic activity and productivity in this important component of North Dakota's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, businesses, and economic analysts to assess the state's economic conditions and growth potential.
Key Facts
- North Dakota's transportation and warehousing industry accounts for approximately 5% of the state's total GDP.
- This sector has experienced steady growth over the past decade, reflecting the state's expanding energy and agricultural production.
- Trucking and pipeline transportation make up the largest components of the transportation and warehousing industry in North Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the transportation and warehousing industry in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and productivity of a critical sector within North Dakota's economy, which is important for policymakers, businesses, and economic analysts.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, businesses, and economic analysts to assess the state's economic conditions and growth potential.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of the U.S. Bureau of Economic Analysis' regional economic accounts.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Warehousing (48-49) in North Dakota (NDTRANSWARERGSP), retrieved from FRED.