Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Utah
UTTRANSUTILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
138.00
Year-over-Year Change
74.82%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Utah measures the real output of the transportation and utilities sectors in the state's economy. This metric is important for economists and policymakers to understand industry-level economic trends and drivers of state-level GDP growth.
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 index tracks the real, inflation-adjusted output of Utah's transportation and utilities sectors, which comprise industries such as air transportation, truck transportation, and electric power generation. The data can provide insights into the productivity and economic conditions of key infrastructure-related industries within the state.
Methodology
The index is calculated based on Bureau of Economic Analysis data on gross domestic product by state and industry.
Historical Context
Policymakers and analysts use this metric to assess the economic health and competitiveness of Utah's transportation and utilities sectors.
Key Facts
- The index has a base year of 2012 = 100.
- Transportation and utilities account for over 10% of Utah's gross state product.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the transportation and utilities sectors in the Utah economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and economic conditions of key infrastructure-related industries within the state, which is important for understanding state-level GDP growth and competitiveness.
Q: How is this data collected or calculated?
A: The index is calculated based on Bureau of Economic Analysis data on gross domestic product by state and industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the economic health and competitiveness of Utah's transportation and utilities sectors, which are critical for the state's infrastructure and economic development.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the Federal Reserve, with a delay of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transportation and Utilities (22, 48-49) in Utah (UTTRANSUTILQGSP), retrieved from FRED.