Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Illinois
ILTRANSUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,161.90
Year-over-Year Change
21.80%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Illinois measures the inflation-adjusted economic output of the transportation and utilities sectors in the state. This key indicator provides insight into the health and productivity of these critical infrastructure industries.
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 data series represents the real, inflation-adjusted gross domestic product (GDP) contribution of the transportation and utilities sectors in the state of Illinois. It is a valuable metric for analyzing the overall economic performance and productivity trends within these core industries, which are vital to a well-functioning state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
Policymakers and market analysts use this data to assess the health and competitiveness of Illinois' transportation and utilities infrastructure.
Key Facts
- Transportation and utilities account for over 10% of Illinois' total GDP.
- Real GDP in this sector has grown by 15% in the past decade.
- The COVID-19 pandemic caused a 7% decline in 2020 before a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This data series measures the real, inflation-adjusted gross domestic product (GDP) contribution of the transportation and utilities sectors in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and productivity of critical infrastructure industries that are vital to Illinois' overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this data to assess the competitiveness and development of Illinois' transportation and utilities infrastructure.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Illinois (ILTRANSUTILRGSP), retrieved from FRED.