Gross Domestic Product: Transportation and Utilities (22, 48-49) in Alabama
ALTRANSUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,215.00
Year-over-Year Change
63.99%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contribution of the transportation and utilities sectors in the state of Alabama. It provides insight into the economic activity and performance of these key industries within the state.
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 Gross Domestic Product: Transportation and Utilities (22, 48-49) in Alabama series tracks the value-added output of the transportation and utilities industries in the state's economy. This data is used by economists and policymakers to analyze the role of these sectors in driving Alabama's overall economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting procedures.
Historical Context
This economic trend is relevant for understanding the state of Alabama's economic composition and competitiveness compared to other states or the national average.
Key Facts
- Alabama's transportation and utilities sectors account for approximately 8% of the state's total GDP.
- The transportation and utilities industries employ over 100,000 workers in Alabama.
- GDP from these sectors has grown by 3% annually in Alabama over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the transportation and utilities sectors in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic activity and performance of these key industries within Alabama, which is useful for understanding the state's overall economic composition and competitiveness.
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 procedures.
Q: How is this trend used in economic policy?
A: This economic trend is relevant for policymakers and economists analyzing the role of transportation and utilities in driving Alabama's overall economic growth and development.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a slight delay, but provides a comprehensive view of the transportation and utilities sectors in Alabama.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Utilities (22, 48-49) in Alabama (ALTRANSUTILNGSP), retrieved from FRED.