Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Illinois
ILTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,725.50
Year-over-Year Change
68.54%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the transit and ground passenger transportation industry in Illinois. It provides valuable insights into the performance and economic contribution of this sector within the state.
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 Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Illinois series tracks the inflation-adjusted output of the transit and ground passenger transportation industry in Illinois. This metric is used by economists and policymakers to understand the state's economic structure and the relative importance of the transportation sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for analyzing the health and competitiveness of Illinois' transportation industry, which has implications for infrastructure investment, policy decisions, and economic development strategies.
Key Facts
- Illinois' transit and ground passenger transportation industry accounts for approximately 1% of the state's total GDP.
- This sector has experienced modest growth over the past decade, reflecting changes in commuting patterns and transportation preferences.
- The performance of the transit and ground passenger transportation industry in Illinois is a key indicator of the state's economic vitality and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the transit and ground passenger transportation industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and economic contribution of the transportation sector within Illinois, which is important for understanding the state's economic structure and informing infrastructure investment and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and competitiveness of Illinois' transportation industry, which has implications for infrastructure investment, policy decisions, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to the reporting and publication schedules of the U.S. Bureau of Economic Analysis, which may result in occasional delays or revisions.
Related Trends
All Employees: Office Administrative Services in Illinois
SMU17000006056110001A
Real Per Capita Personal Income: Nonmetropolitan Portion for Illinois
ILNMPRPIPC
All Employees: Federal Government in Illinois
SMU17000009091000001A
Average Weekly Earnings of All Employees: Goods Producing in Illinois
SMU17000000600000011A
Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Illinois
U4UNEM4IL
Real Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Illinois
ILFNDTRSTRGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Illinois (ILTRANGRNDTRANRGSP), retrieved from FRED.