Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Indiana
INOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,618.30
Year-over-Year Change
46.50%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Indiana' measures the economic output of the transportation and support services sector in Indiana, adjusted for inflation.
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 economic trend provides insight into the health and performance of Indiana's transportation-related industries, including warehousing, logistics, and related support services. It is a key indicator for understanding the state's economic activity and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely watched by policymakers, industry analysts, and investors to gauge Indiana's economic conditions and outlook.
Key Facts
- Indiana's transportation and support services sector accounts for over 5% of the state's total economic output.
- This metric has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a temporary 8% decline in this indicator in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the transportation and support services sector in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the performance and competitiveness of Indiana's logistics, warehousing, and transportation-related industries, which are crucial to 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and investors closely monitor this indicator to gauge Indiana's overall economic conditions and make informed decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to revisions as more comprehensive information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Indiana (INOTHTRANRGSP), retrieved from FRED.