Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Rhode Island
RIOTHTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.36
Year-over-Year Change
18.91%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Rhode Island measures the real output of the transportation and related support services industry in the state.
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 provides a measure of the volume of goods and services produced by the transportation and support services sector in Rhode Island's economy. It is a valuable indicator for economists and policymakers to assess the state's economic activity and growth.
Methodology
The data is calculated based on the Bureau of Economic Analysis' national accounts methodology.
Historical Context
This metric is used to track trends in the transportation industry and support economic policy decisions.
Key Facts
- The index has a base year of 2012.
- Transportation and support services account for a significant portion of Rhode Island's GDP.
- The index can signal changes in demand for transportation and logistics services in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output or volume of goods and services produced by the transportation and related support services industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the health and growth of Rhode Island's transportation sector, which is a key component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated based on the Bureau of Economic Analysis' national accounts methodology.
Q: How is this trend used in economic policy?
A: This index can inform economic and transportation policy decisions by providing insights into the performance of this critical industry in Rhode Island.
Q: Are there update delays or limitations?
A: The data may be subject to revisions and can have update delays due to the nature of economic statistics compilation.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Rhode Island (RIOTHTRANQGSP), retrieved from FRED.