Real Gross Domestic Product: Water Transportation (483) in Nebraska
NEWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
N/A%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the water transportation industry (NAICS 483) in the state of Nebraska. It is an important indicator of the economic activity and productivity in this key transportation 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: Water Transportation (483) in Nebraska series tracks the inflation-adjusted value added by the water transportation industry to the state's overall economic output. It provides insights into the health and performance of this logistics-critical industry within the Nebraska economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting procedures.
Historical Context
Policymakers and market analysts closely monitor this state-level industry trend to assess the broader economic conditions and infrastructure needs.
Key Facts
- Nebraska's water transportation GDP accounted for 0.6% of the state's total GDP in 2021.
- The water transportation industry in Nebraska employed over 1,200 workers as of 2020.
- Real GDP for Nebraska's water transportation sector has grown by 23% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) generated by the water transportation industry (NAICS 483) within the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: The water transportation industry is a critical component of Nebraska's logistics and supply chain infrastructure. This trend provides valuable insights into the economic performance and productivity of this sector, which is closely monitored by policymakers and market 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 income and product accounting procedures.
Q: How is this trend used in economic policy?
A: Policymakers and government agencies use this state-level industry trend to assess broader economic conditions, infrastructure needs, and the competitiveness of Nebraska's transportation sector.
Q: Are there update delays or limitations?
A: The data is published with a lag of several quarters, so there may be a delay in reflecting the most recent economic conditions. Additionally, the state-level industry data may have larger margin of errors compared to national-level statistics.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Nebraska (NEWATTRANRGSP), retrieved from FRED.