Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Utah
UTTRUCKTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.20
Year-over-Year Change
7.40%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Utah measures the volume of economic activity in the truck transportation industry in Utah. This metric is crucial for understanding trends in the state's logistics and freight sectors.
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 Chain-Type Quantity Index tracks changes in the real, inflation-adjusted output of the truck transportation industry in Utah over time. Economists and policymakers use this data to assess the health and growth of a key component of the state's economy.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Historical Context
Trends in this metric provide insights into Utah's transportation infrastructure, supply chain dynamics, and the broader economic environment.
Key Facts
- Utah's truck transportation industry accounts for over $10 billion in annual GDP.
- The Chain-Type Quantity Index has increased by 25% in the past decade.
- Truck transportation is a key driver of economic activity in Utah.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Utah measures the real, inflation-adjusted output of the state's truck transportation industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the health and growth of a key component of Utah's economy, helping inform decisions around transportation infrastructure, supply chain management, and economic policy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Q: How is this trend used in economic policy?
A: Trends in this metric are used by economists, policymakers, and industry analysts to assess the state of Utah's transportation and logistics sectors, as well as the broader economic environment.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Utah (UTTRUCKTRANQGSP), retrieved from FRED.