Real Gross Domestic Product: Truck Transportation (484) in Wisconsin
WITRUCKTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,234.50
Year-over-Year Change
-2.63%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Truck Transportation (484) in Wisconsin measures the inflation-adjusted economic output of the truck transportation industry in the state. This metric is a key indicator of the health and productivity of the logistics and freight transport 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
This series represents the real (inflation-adjusted) value added by the truck transportation industry to Wisconsin's gross state product. It is a useful gauge of economic activity and efficiency in the state's freight and logistics supply chains.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric informs policymakers and businesses about trends in Wisconsin's transportation and logistics capabilities.
Key Facts
- Wisconsin's truck transportation industry accounts for over 3% of the state's GDP.
- Truck transport real GDP has grown by 20% in Wisconsin over the past decade.
- The trucking sector employs over 80,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted value added by the truck transportation industry to Wisconsin's gross state product.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the productivity and health of Wisconsin's logistics and freight transport sectors, which are critical to the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to gauge the efficiency and capacity of Wisconsin's transportation infrastructure and supply chains.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Truck Transportation (484) in Wisconsin (WITRUCKTRANRGSP), retrieved from FRED.