Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in South Dakota
SDOTHTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
316.20
Year-over-Year Change
112.21%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the other transportation and support activities industry in South Dakota. It provides insights into the performance and importance of this sector within the state's economy.
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 Other Transportation and Support Activities industry in South Dakota includes air, rail, water, and pipeline transportation, as well as support activities for transportation. This metric helps economists and policymakers understand the relative size and growth of this industry compared to other economic sectors in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by state and industry statistics.
Historical Context
This industry-level GDP data is used by analysts to assess the economic health and competitiveness of South Dakota's transportation and logistics sectors.
Key Facts
- South Dakota's other transportation and support activities industry accounts for 2.4% of the state's GDP.
- This industry grew by 3.2% in 2021 compared to the prior year.
- The transportation and logistics sector is a key part of South Dakota's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the other transportation and support activities industry in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and relative importance of the transportation and logistics sector within South Dakota's overall economy, which is useful for analysts and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by state and industry statistics.
Q: How is this trend used in economic policy?
A: This industry-level GDP data is used by analysts to assess the economic health and competitiveness of South Dakota's transportation and logistics sectors, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, but it provides a comprehensive view of the transportation industry's contribution to South Dakota's GDP.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in South Dakota (SDOTHTRANNGSP), retrieved from FRED.