Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Arkansas
ARTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.20
Year-over-Year Change
81.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the transit and ground passenger transportation sector in Arkansas. It provides insight into the performance and productivity of this important industry 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 Arkansas is a key economic indicator that tracks the inflation-adjusted output of the transit and ground passenger transportation industry in the state. This metric is used by economists and policymakers to analyze the health and contribution of this sector to Arkansas' overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
Trends in this industry's GDP are closely monitored for their implications on employment, consumer spending, and infrastructure investment decisions.
Key Facts
- Arkansas' transit and ground passenger transportation GDP was $1.15 billion in 2021.
- This sector accounts for approximately 1.5% of Arkansas' total economic output.
- The industry experienced a 4.2% decline in real GDP during the COVID-19 pandemic in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the transit and ground passenger transportation sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and productivity of an important industry within Arkansas' 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 standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Trends in this industry's GDP are closely monitored for their implications on employment, consumer spending, and infrastructure investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag in availability.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Arkansas (ARTRANGRNDTRANRGSP), retrieved from FRED.