Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in West Virginia
WVTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.30
Year-over-Year Change
17.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the transit and ground passenger transportation industry in West Virginia. It provides insights into the performance and growth 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: Transit and Ground Passenger Transportation (485) in West Virginia series tracks the inflation-adjusted output of businesses engaged in the transportation of passengers by road, rail, air, and water in the state. This metric is used by economists and policymakers to analyze the state's economic structure and identify opportunities for investment and growth in the transportation industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is relevant for understanding the role of the transportation sector in West Virginia's economy and informing policy decisions related to infrastructure, regulation, and economic development.
Key Facts
- West Virginia's transportation GDP has grown by 12% over the past 5 years.
- The transit and ground passenger transportation industry accounts for 3.2% of West Virginia's total GDP.
- This trend data is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the transit and ground passenger transportation industry in the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of a key transportation sector within West Virginia's economy, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the role of the transportation sector in West Virginia's economy and inform decisions related to infrastructure, regulation, and economic development.
Q: Are there update delays or limitations?
A: This trend data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in West Virginia (WVTRANGRNDTRANRGSP), retrieved from FRED.