Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Illinois
ILTRUCKTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90.52
Year-over-Year Change
12.90%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Illinois measures the inflation-adjusted output of the truck transportation industry in Illinois. This metric is important for economists and policymakers to gauge the health and productivity of the state's logistics and supply chain 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
This index tracks the real, volume-based output of the truck transportation industry in Illinois, a key component of the state's economy. It provides a measure of the underlying physical production rather than just monetary values, offering insights into the industry's efficiency and growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula applied to GDP-by-industry statistics.
Historical Context
Trends in this index are closely monitored by state economic development agencies and transportation planners to inform infrastructure investment and policy decisions.
Key Facts
- The index uses 2012 as the base year.
- Illinois is the 5th largest state economy in the U.S.
- Truck transportation accounts for over 3% of Illinois' GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the truck transportation industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the productivity and efficiency of Illinois' logistics and supply chain sector, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula applied to GDP-by-industry statistics.
Q: How is this trend used in economic policy?
A: State economic development agencies and transportation planners closely monitor this index to inform infrastructure investment and policy decisions that support the truck transportation industry in Illinois.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Truck Transportation (484) in Illinois (ILTRUCKTRANQGSP), retrieved from FRED.