Real Gross Domestic Product: Rail Transportation (482) in Utah
UTRAILTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
292.50
Year-over-Year Change
-13.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures the real gross domestic product (GDP) of the rail transportation industry in the state of Utah. It is an important metric for analyzing the performance and growth of the state's transportation infrastructure and logistics 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
The Real Gross Domestic Product: Rail Transportation (482) in Utah series tracks the inflation-adjusted economic output of the rail transportation industry within the state. It is a key indicator of the industry's productivity and contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounts.
Historical Context
This metric is used by policymakers, transportation planners, and industry analysts to assess the health and trends within Utah's rail transportation sector.
Key Facts
- Utah's rail transportation GDP accounts for over 5% of the state's total economic output.
- The rail industry in Utah employs more than 6,000 workers.
- Real rail GDP in Utah has grown by an average of 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real, inflation-adjusted gross domestic product (GDP) of the rail transportation industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important gauge of the productivity and economic contribution of Utah's rail transportation sector, which is crucial for the state's logistics and supply chain infrastructure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounts and industry classifications.
Q: How is this trend used in economic policy?
A: Policymakers, transportation planners, and industry analysts use this metric to assess the performance and needs of Utah's rail transportation system, informing infrastructure investment and economic development decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 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 Utah (UTRAILTRANRGSP), retrieved from FRED.