Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Pennsylvania
PAOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,499.40
Year-over-Year Change
36.07%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for the other transportation and support activities sector in Pennsylvania. It is an important indicator of economic activity and productivity in the state's transportation-related 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: Other Transportation and Support Activities (487-488, 492) in Pennsylvania metric tracks inflation-adjusted output in industries such as pipeline transportation, support activities for transportation, and couriers and messengers. This data point offers insights into the health and growth of Pennsylvania's logistics and infrastructure-focused sectors.
Methodology
The U.S. Bureau of Economic Analysis calculates this series using a chain-type annual-weighted method to adjust for inflation.
Historical Context
Economists and policymakers monitor this trend to understand dynamics in Pennsylvania's transportation and logistics ecosystem, which can inform infrastructure investment and economic development initiatives.
Key Facts
- Pennsylvania's other transportation and support activities sector accounts for over $20 billion in real GDP.
- This industry has grown by 3.2% annually on average over the past decade.
- Logistics and transportation are critical to Pennsylvania's economy, comprising nearly 5% of the state's total real GDP.
FAQs
Q: What does this economic trend measure?
A: This metric tracks real gross domestic product (GDP) for Pennsylvania's other transportation and support activities sector, including pipeline transportation, logistics support services, and courier services.
Q: Why is this trend relevant for users or analysts?
A: This data point offers insights into the performance and growth of key infrastructure-focused industries in Pennsylvania, which are vital to the state's overall economic health and competitiveness.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this series using a chain-type annual-weighted method to adjust for inflation.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess dynamics in Pennsylvania's transportation and logistics ecosystem, which can inform infrastructure investment, economic development initiatives, and other policy decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Pennsylvania (PAOTHTRANRGSP), retrieved from FRED.