Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in the Great Lakes BEA Region
GLAKTRUCKTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.12
Year-over-Year Change
12.96%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in the Great Lakes BEA Region measures the volume of economic activity in the trucking industry within this geographic area, adjusted for inflation.
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 provides insight into the real output and productivity of the trucking sector, which is a critical component of the regional economy and supply chains. Economists and policymakers use this data to assess economic conditions and the performance of the transportation industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on survey information from businesses.
Historical Context
Trends in this index are closely watched by transportation companies, shippers, and economic analysts to understand demand and capacity in the regional logistics network.
Key Facts
- The Great Lakes region accounts for 20% of U.S. GDP.
- Trucking is the primary mode of freight transport in the region.
- The index is a chain-weighted measure, adjusting for inflation.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output and productivity of the trucking industry in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: The trucking industry is a critical component of the regional economy and supply chains, so this data provides important insights into economic conditions and performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on survey information from businesses in the trucking industry.
Q: How is this trend used in economic policy?
A: Trends in this index are closely watched by transportation companies, shippers, and economic analysts to understand demand and capacity in the regional logistics network.
Q: Are there update delays or limitations?
A: The index 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, Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in the Great Lakes BEA Region (GLAKTRUCKTRANQGSP), retrieved from FRED.