Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Illinois
ILTRANGRNDTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
183.60
Year-over-Year Change
68.54%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Illinois measures the real output of the transit and ground passenger transportation industry in Illinois, 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 tracks the volume of economic activity in the transit and ground passenger transportation sector of Illinois, an important component of the state's overall GDP. Economists and policymakers use this data to analyze productivity, growth, and structural changes within the transportation industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This index provides insight into the performance of a key Illinois industry, informing economic policy decisions.
Key Facts
- The index has a base year of 2012.
- The transit and ground passenger transportation industry accounts for over 2% of Illinois' GDP.
- This index has shown steady growth since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the transit and ground passenger transportation industry in Illinois, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and productivity of a key sector of the Illinois economy, informing economic policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: This index is used by economists and policymakers to analyze the transportation industry's contribution to Illinois' overall economic growth and development.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Illinois (ILTRANGRNDTRANQGSP), retrieved from FRED.