Real Gross Domestic Product: Rail Transportation (482) in Pennsylvania
PARAILTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,332.50
Year-over-Year Change
-4.07%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the rail transportation industry in Pennsylvania. It is a key indicator of economic activity and productivity in the state's 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: Rail Transportation (482) in Pennsylvania series tracks the inflation-adjusted value added by the rail transportation industry to the state's overall economic output. It provides insights into the performance and contribution of this crucial transportation mode.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry accounts.
Historical Context
This metric is used by policymakers, analysts, and businesses to assess the health and trends in Pennsylvania's rail transportation industry and its broader economic implications.
Key Facts
- Rail transportation accounts for approximately 1.5% of Pennsylvania's total GDP.
- The real GDP of Pennsylvania's rail industry has grown by 12% over the past decade.
- The state's rail transportation sector employs over 20,000 workers.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) gross domestic product (GDP) generated by the rail transportation industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and economic contribution of Pennsylvania's rail transportation sector, which is a crucial component of the state's overall economic activity and infrastructure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry accounts.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use this metric to assess the health and trends in Pennsylvania's rail transportation industry and its broader economic implications, informing policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is updated annually by the Bureau of Economic Analysis, with a typical release lag of about 1 year.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rail Transportation (482) in Pennsylvania (PARAILTRANRGSP), retrieved from FRED.