Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Delaware
DETRANGRNDTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
178.90
Year-over-Year Change
101.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) for the transit and ground passenger transportation industry (NAICS code 485) in the state of Delaware. It provides insight into the economic activity and performance of this key transportation sector.
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 DETRANGRNDTRANNGSP series represents the inflation-adjusted GDP, or value added, generated by transit and ground passenger transportation businesses in Delaware. This metric is used by economists and policymakers to analyze the broader economic conditions and productivity trends within this industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP by industry accounts.
Historical Context
Monitoring this trend can provide important context for transportation infrastructure planning, as well as insights into the overall health of Delaware's economy.
Key Facts
- Delaware's transit GDP was $336 million in 2021.
- This industry accounts for 1.1% of Delaware's total GDP.
- Transit GDP in Delaware has grown by 15% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) for the transit and ground passenger transportation industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this trend provides insight into the economic performance and productivity of a key transportation sector, which is important for infrastructure planning and understanding Delaware's overall economic conditions.
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 state-level GDP by industry accounts.
Q: How is this trend used in economic policy?
A: This trend can inform transportation infrastructure planning and investment decisions, as well as provide broader context on the health of Delaware's economy for policymakers and analysts.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, so the most recent data point may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Delaware (DETRANGRNDTRANNGSP), retrieved from FRED.