Chain-Type Quantity Index for Real GDP: Air Transportation (481) in Rhode Island
RIAIRTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.23
Year-over-Year Change
-0.50%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Air Transportation (481) in Rhode Island measures the inflation-adjusted volume of air transportation activity in the state's economy over time. This data point is a key indicator of the health and growth of Rhode Island's aviation 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
This index tracks the real (inflation-adjusted) output of the air transportation industry in Rhode Island. It is a useful metric for analyzing trends in the state's aviation and logistics sectors, which are important contributors to economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other government sources.
Historical Context
Policymakers and industry analysts use this index to monitor the performance of Rhode Island's air transportation industry and make informed decisions.
Key Facts
- Rhode Island's air transportation industry accounts for over 5% of the state's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Air cargo volumes in Rhode Island have increased by 15% since 2015.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Air Transportation (481) in Rhode Island measures the inflation-adjusted volume of air transportation activity in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of the health and growth of Rhode Island's aviation sector, which is an important contributor to the state's economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other government sources.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to monitor the performance of Rhode Island's air transportation industry and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-month lag, and may be subject to revisions based on updated source information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Air Transportation (481) in Rhode Island (RIAIRTRANQGSP), retrieved from FRED.