Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Illinois
ILTRANSWAREQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.38
Year-over-Year Change
2.85%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Illinois measures the real economic output of the transportation and warehousing sector in Illinois. It is a key indicator for understanding the state's economic performance and growth.
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 inflation-adjusted production levels of businesses engaged in transportation of goods and storage of materials in Illinois. It is an important measure of activity and productivity in the state's logistics and distribution industries.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using chain-weighted methods to account for price changes over time.
Historical Context
Policymakers and economists closely monitor this index to assess the health of Illinois' transportation and logistics sectors, which are crucial to the state's overall economic competitiveness.
Key Facts
- Illinois is a major logistics hub, home to several major interstate highways and rail lines.
- The transportation and warehousing sector accounts for over 6% of Illinois' GDP.
- This index has seen steady growth in recent years, indicating expanding economic activity.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted economic output of Illinois' transportation and warehousing sector, including businesses engaged in moving goods and storing materials.
Q: Why is this trend relevant for users or analysts?
A: The transportation and warehousing sector is a crucial part of Illinois' economy, so this index provides valuable insights into the state's overall economic performance and growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using chain-weighted methods to account for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to assess the health of Illinois' logistics and distribution industries, which are important for the state's economic competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Illinois (ILTRANSWAREQQGSP), retrieved from FRED.