Real Gross Domestic Product: Rail Transportation (482) in Wisconsin
WIRAILTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
822.40
Year-over-Year Change
26.91%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the rail transportation industry in Wisconsin. It provides insights into the performance and productivity of this key transportation sector within the state's economy.
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 Wisconsin series represents the inflation-adjusted value added by the rail transportation industry to the state's overall economic output. It is a crucial indicator for analyzing Wisconsin's transportation infrastructure and its impact on the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is widely used by policymakers, transportation planners, and economic analysts to assess the health and contributions of Wisconsin's rail transportation industry.
Key Facts
- Wisconsin's rail transportation industry accounts for 1.2% of the state's total GDP.
- Rail GDP in Wisconsin has grown by 3.4% on average over the past 5 years.
- The rail transportation sector employs over 7,000 workers in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) generated by the rail transportation industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and productivity of Wisconsin's critical rail transportation sector, which is a key component of the state's overall economic activity and 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 standard national accounting principles and methodologies.
Q: How is this trend used in economic policy?
A: Policymakers, transportation planners, and economic analysts use this trend to assess the health and contributions of Wisconsin's rail transportation industry, informing infrastructure investment decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately 3 months, and may be subject to minor revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rail Transportation (482) in Wisconsin (WIRAILTRANRGSP), retrieved from FRED.