Gross Domestic Product: Truck Transportation (484) in the Great Lakes BEA Region
GLAKTRUCKTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47,929.80
Year-over-Year Change
101.03%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Truck Transportation (484) in the Great Lakes BEA Region measures the economic output of the truck transportation industry in this multi-state geographic area. It is a key indicator of supply chain and logistics activity in the region.
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 economic trend tracks the total GDP generated by the truck transportation sector, which includes establishments primarily engaged in the transport of goods by road. It provides insight into the scale and growth of this critical transportation mode within the Great Lakes region.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP accounts.
Historical Context
Truck transportation GDP is closely watched by economists, policymakers, and industry analysts to assess the health and dynamics of the regional economy.
Key Facts
- The Great Lakes region accounts for over 20% of U.S. GDP.
- Truck transportation is the largest mode of freight movement in the region.
- GDP in this sector grew by 3.2% in the last year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the truck transportation industry in the multi-state Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: Truck transportation GDP is a key indicator of supply chain and logistics activity in the region, providing insight into a critical component of the overall economy.
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 accounts.
Q: How is this trend used in economic policy?
A: Truck transportation GDP is closely watched by economists, policymakers, and industry analysts to assess the health and dynamics of the regional economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Real Gross Domestic Product: Primary Metal Manufacturing (331) in the Great Lakes BEA Region
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Citation
U.S. Federal Reserve, Gross Domestic Product: Truck Transportation (484) in the Great Lakes BEA Region (GLAKTRUCKTRANNGSP), retrieved from FRED.