Gross Domestic Product: Transportation and Utilities (22, 48-49) in South Carolina
SCTRANSUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,186.40
Year-over-Year Change
79.20%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) for the transportation and utilities sectors in the state of South Carolina. It provides valuable insights into the performance and contribution of these key industries to the state's overall economic output.
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 Utilities (22, 48-49) in South Carolina series tracks the combined economic activity of the transportation and utilities sectors within the state. This metric is closely monitored by economists and policymakers to assess the health and growth of these vital industries, which play a crucial role in supporting the broader state economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using established national accounting methods.
Historical Context
This economic trend is widely used by analysts, businesses, and government agencies to inform investment decisions, policy development, and economic forecasting.
Key Facts
- South Carolina's transportation and utilities sectors account for over 6% of the state's total GDP.
- The transportation and utilities industries in South Carolina employ more than 100,000 workers.
- This economic trend has shown steady growth over the past decade, reflecting the state's investment in infrastructure and utility modernization.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) for the transportation and utilities sectors in the state of South Carolina, providing insights into the economic performance and contribution of these key industries.
Q: Why is this trend relevant for users or analysts?
A: This trend is highly relevant for understanding the health and growth of South Carolina's transportation and utilities sectors, which are crucial to the state's overall economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using established national accounting methods.
Q: How is this trend used in economic policy?
A: This economic trend is widely used by analysts, businesses, and government agencies to inform investment decisions, policy development, and economic forecasting for South Carolina's transportation and utilities sectors.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve, with a typical release delay of 1-2 months. There may be minor limitations in data coverage or granularity, as with any economic statistic.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Utilities (22, 48-49) in South Carolina (SCTRANSUTILNGSP), retrieved from FRED.