Gross Domestic Product: Transportation and Warehousing (48-49) in Rhode Island
RITRANSWARENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,432.90
Year-over-Year Change
59.35%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the gross domestic product (GDP) generated by the transportation and warehousing industry in Rhode Island. It provides insight into the economic activity and productivity of this critical 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 Gross Domestic Product: Transportation and Warehousing (48-49) in Rhode Island series tracks the total value of goods and services produced by businesses in the transportation and warehousing industry within the state. This metric is used to analyze the economic health and competitiveness of Rhode Island's logistics and distribution sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This GDP metric is closely monitored by policymakers and industry analysts to assess the state's infrastructure needs and business environment.
Key Facts
- Rhode Island's transportation and warehousing GDP was $2.3 billion in 2021.
- This sector accounts for approximately 4% of the state's total economic output.
- GDP in this industry has grown by 7.5% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or gross domestic product (GDP) generated by businesses in the transportation and warehousing industry within the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This GDP data provides important insights into the economic health and productivity of Rhode Island's logistics and distribution sectors, which are critical to the state's overall competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this GDP metric to assess Rhode Island's infrastructure needs, business environment, and overall economic performance.
Q: Are there update delays or limitations?
A: The GDP data for this industry is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Warehousing (48-49) in Rhode Island (RITRANSWARENGSP), retrieved from FRED.