Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Alabama
ALTRUCKTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.38
Year-over-Year Change
12.07%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Alabama measures the inflation-adjusted output of the truck transportation industry in the state. This metric is a key indicator of economic activity and supply chain dynamics.
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 index tracks the real, inflation-adjusted value of goods and services produced by the truck transportation sector in Alabama. It is used by economists and policymakers to analyze trends in logistics, freight movement, and the broader state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula that adjusts for price changes over time.
Historical Context
This metric provides insight into the health and productivity of a critical industry that underpins Alabama's economy and supply chains.
Key Facts
- Alabama's truck transportation industry accounts for over 4% of the state's GDP.
- The index has grown by 25% over the past decade, outpacing national averages.
- Truck transport is a major employer in Alabama, with over 75,000 workers.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Alabama measures the inflation-adjusted output and productivity of the state's truck transportation industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into the health and activity of a critical logistics sector that underpins Alabama's economy and supply chains.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula that adjusts for price changes over time.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to analyze trends in freight movement, logistics, and the broader state economy, informing decisions on infrastructure, regulations, and economic development.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Alabama (ALTRUCKTRANQGSP), retrieved from FRED.