Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in South Dakota
SDTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.10
Year-over-Year Change
53.12%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product of the transit and ground passenger transportation industry in South Dakota. It is a key indicator of the state's transportation sector performance and economic activity.
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: Transit and Ground Passenger Transportation (485) in South Dakota series tracks the output of the public and private transportation services industry, including buses, taxis, and other passenger transit. This data point is used by economists and policymakers to analyze the health and growth of South Dakota's transportation infrastructure and its impact on the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry production and price indices.
Historical Context
This economic indicator provides insight into transportation investment, consumer demand, and overall economic conditions in South Dakota.
Key Facts
- South Dakota's transit GDP was $233 million in 2021.
- The transit industry makes up 1.2% of South Dakota's total GDP.
- This trend has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the transit and ground passenger transportation industry in South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This data point is used by economists and policymakers to analyze the health and growth of South Dakota's transportation infrastructure and its impact on the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry production and price indices.
Q: How is this trend used in economic policy?
A: This economic indicator provides insight into transportation investment, consumer demand, and overall economic conditions in South Dakota, informing policymakers and analysts.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in South Dakota (SDTRANGRNDTRANRGSP), retrieved from FRED.