Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Rhode Island
RITRUCKTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.72
Year-over-Year Change
-13.83%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Rhode Island measures the real output of the truck transportation industry in the state, providing insight into economic activity and productivity.
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 volume of real goods transported by truck in Rhode Island, serving as an important indicator of supply chain dynamics, logistics efficiency, and the overall health of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey and administrative sources.
Historical Context
Policymakers and analysts monitor this trend to assess the impact of economic conditions, regulations, and infrastructure investments on the truck transportation sector.
Key Facts
- The index has a base year of 2012.
- Truck transportation accounts for over 60% of total freight movement in Rhode Island.
- The index reached its highest level in 2018 at 109.36.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) output of the truck transportation industry in Rhode Island, providing a gauge of economic activity and productivity in this key sector.
Q: Why is this trend relevant for users or analysts?
A: The truck transportation index is an important indicator of supply chain dynamics, logistics efficiency, and the overall health of Rhode Island's economy, making it relevant for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey and administrative sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the impact of economic conditions, regulations, and infrastructure investments on the truck transportation sector, which is crucial for Rhode Island's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical release lag of 3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Rhode Island (RITRUCKTRANQGSP), retrieved from FRED.