Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Maryland
MDTRANGRNDTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139.66
Year-over-Year Change
27.43%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Maryland measures the inflation-adjusted output of the transportation industry in the state. This metric is important for analyzing economic activity and productivity in the 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 of transportation services produced in Maryland, adjusted for inflation. It provides a more accurate picture of the sector's economic contribution compared to nominal dollar values. Policymakers and analysts use this data to monitor industry trends and inform decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using quantity and price information from the state's transportation firms.
Historical Context
Trends in this index help illuminate the broader performance of Maryland's economy and can inform infrastructure investment decisions.
Key Facts
- The index is based on 2012 as the reference year.
- Transportation accounts for over 2% of Maryland's total GDP.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted volume of transportation services produced in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: The transportation industry is a key component of Maryland's economy, and this index provides valuable insights into the sector's performance and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using quantity and price information from transportation firms in Maryland.
Q: How is this trend used in economic policy?
A: Trends in this index help inform infrastructure investment decisions and broader economic policymaking in Maryland.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transit and Ground Passenger Transportation (485) in Maryland (MDTRANGRNDTRANQGSP), retrieved from FRED.