Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in the District of Columbia
DCTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
200.40
Year-over-Year Change
65.07%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in the District of Columbia measures the inflation-adjusted economic output of the transportation sector in the region. This trend is a key indicator of economic activity and can inform policy decisions related to infrastructure and transportation planning.
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 tracks the real GDP contribution of the transit and ground passenger transportation industry, which includes bus, taxi, and other local transportation services, in the District of Columbia. Economists and policymakers use this data to assess the health and growth of the local transportation sector and its impact on the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Trends in this series can provide insights into consumer demand, business investment, and government policies affecting the transportation industry in the D.C. area.
Key Facts
- The transportation sector accounts for over 2% of D.C.'s total GDP.
- Real GDP in the D.C. transit industry has grown by 25% since 2010.
- D.C. has the highest per capita use of public transportation of any U.S. state or territory.
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 District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the health and growth of the local transportation sector, which is a key component of the D.C. economy and can inform policy decisions related to infrastructure, urban planning, and economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Trends in this series can be used by policymakers, economists, and transportation planners to assess the performance of the local transportation industry and its impact on the broader economy, informing decisions around investment, regulation, and urban development.
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: Transit and Ground Passenger Transportation (485) in the District of Columbia (DCTRANGRNDTRANRGSP), retrieved from FRED.