Real Gross Domestic Product: Rail Transportation (482) in South Dakota
SDRAILTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
148.20
Year-over-Year Change
-6.91%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rail transportation industry in South Dakota. It provides insights into the performance and contribution of this critical transportation sector to 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 Real Gross Domestic Product: Rail Transportation (482) in South Dakota series tracks the inflation-adjusted economic output of the rail transportation industry in the state. It is an important indicator for policymakers and analysts to assess the health and growth of this infrastructure-heavy industry and its impact on the broader South Dakota economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is used by government agencies, industry groups, and economic researchers to monitor the rail transportation sector's contribution to South Dakota's economic performance and development.
Key Facts
- Rail transportation accounts for over 4% of South Dakota's total GDP.
- The state's rail GDP has grown by an average of 2.3% annually over the past decade.
- South Dakota's rail industry supports over 3,000 direct jobs and many more indirectly.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the rail transportation industry in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic contribution of South Dakota's rail transportation sector, which is a critical component of the state's infrastructure and economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Government agencies, industry groups, and economic researchers use this trend to monitor the rail transportation sector's contribution to South Dakota's overall economic performance and to inform policy decisions related to infrastructure investment and economic development.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rail Transportation (482) in South Dakota (SDRAILTRANRGSP), retrieved from FRED.