Gross Domestic Product: Air Transportation (481) in Utah
UTAIRTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,979.90
Year-over-Year Change
143.34%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Air Transportation (481) in Utah measures the economic output of the air transportation industry in the state. This data point is important for understanding regional economic trends and the performance of a key industry sector.
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 series represents the gross domestic product originating in the air transportation industry (NAICS code 481) within the state of Utah. It is a key indicator of the size and productivity of this industry at the state level and can provide insights into the broader economic conditions in Utah.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and industry sources.
Historical Context
Economists and policymakers use this data to assess the health and competitiveness of Utah's air transportation sector and its contribution to the state's overall economic performance.
Key Facts
- Utah's air transportation GDP was $1.7 billion in 2021.
- This industry accounts for 1.3% of Utah's total GDP.
- Air transportation GDP in Utah has grown by 24% since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) originating in the air transportation industry (NAICS code 481) within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the size, productivity, and performance of a key industry sector in the Utah economy, which is useful for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and industry sources.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to assess the health and competitiveness of Utah's air transportation sector and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months. There may be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Air Transportation (481) in Utah (UTAIRTRANNGSP), retrieved from FRED.