Real Gross Domestic Product: Transportation and Warehousing (48-49) in Illinois
ILTRANSWARERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36,954.80
Year-over-Year Change
21.63%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the transportation and warehousing industry in Illinois. It provides insight into the economic performance and productivity of this key sector.
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: Transportation and Warehousing (48-49) in Illinois series tracks the inflation-adjusted economic output of the transportation and logistics industry in the state. It is a valuable indicator of supply chain health and economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
Policymakers and industry analysts monitor this trend to assess the state's economic competitiveness and guide infrastructure investment decisions.
Key Facts
- Illinois is a major logistics hub for the Midwest region.
- The transportation and warehousing sector accounts for over 5% of Illinois' GDP.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the transportation and warehousing industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the economic performance and productivity of a key industry that is crucial for supply chains and regional competitiveness.
Q: How is this data collected or calculated?
A: The data is 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 industry analysts monitor this trend to assess the state's economic competitiveness and guide infrastructure investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Warehousing (48-49) in Illinois (ILTRANSWARERGSP), retrieved from FRED.