Real Gross Domestic Product: Transportation and Warehousing (48-49) in Washington
WATRANSWARERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,143.70
Year-over-Year Change
51.08%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the transportation and warehousing industry in Washington state. It provides insights into the productivity and economic output of this crucial 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
Real GDP for transportation and warehousing in Washington is a key indicator of the industry's contribution to the state's overall economic performance. It is used by policymakers, economists, and analysts to gauge the health and growth of this logistics-focused segment.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methods.
Historical Context
This metric helps inform infrastructure investment decisions and economic development strategies in Washington.
Key Facts
- Washington's transportation and warehousing GDP was $25.6 billion in 2021.
- This sector accounts for 5.2% of Washington's total economic output.
- Real GDP in this industry grew 4.3% in 2021 after a 1.1% decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) for the transportation and warehousing industry in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the productivity and economic importance of the logistics sector in Washington, which is crucial for informing policy and investment decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methods.
Q: How is this trend used in economic policy?
A: This metric helps inform infrastructure investment decisions and economic development strategies in Washington by measuring the performance of the transportation and warehousing industry.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Warehousing (48-49) in Washington (WATRANSWARERGSP), retrieved from FRED.