Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Illinois
ILTRANSWAREQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.63
Year-over-Year Change
21.63%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Illinois measures the volume of economic output from the transportation and warehousing sector in Illinois. This is a key indicator of logistics and supply chain activity in 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
This index tracks the real, inflation-adjusted volume of goods and services produced by the transportation and warehousing industries in Illinois. It provides insights into the productivity and growth of a crucial component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures and chain-type quantity indexes.
Historical Context
Policymakers and businesses use this index to monitor the health and performance of Illinois' logistics and distribution sectors.
Key Facts
- The index uses 2012 as the base year.
- Transportation and warehousing account for around 4% of Illinois' total GDP.
- The index has increased by over 20% since 2012.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output from the transportation and warehousing sector in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the productivity and growth of a crucial component of Illinois' economy, helping policymakers and businesses monitor the health of the state's logistics and distribution sectors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures and chain-type quantity indexes.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this index to monitor the performance of Illinois' transportation and warehousing industries, which are critical for the state's economic growth and competitiveness.
Q: Are there update delays or limitations?
A: The index is updated quarterly, with a lag of several months, so the most recent data may not reflect the latest economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Illinois (ILTRANSWAREQGSP), retrieved from FRED.