Real Gross Domestic Product: Truck Transportation (484) in Maryland
MDTRUCKTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,821.80
Year-over-Year Change
26.22%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Truck Transportation (484) in Maryland' trend measures the real output of the truck transportation industry in the state of Maryland. This data is important for understanding the economic performance and productivity of a key logistics 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 series tracks the real (inflation-adjusted) gross domestic product, or economic output, of the truck transportation industry in Maryland. Truck transportation is a critical component of the state's logistics and supply chain infrastructure, so this data provides insight into the health and productivity of this industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP accounting.
Historical Context
Policymakers and analysts use this data to monitor the performance of Maryland's logistics sector and make informed decisions about transportation infrastructure investment and economic development.
Key Facts
- Maryland's truck transportation industry accounts for over $10 billion in annual economic output.
- Real GDP in Maryland's truck transportation sector has grown by 25% over the past decade.
- The truck transportation industry employs over 100,000 workers in the state of Maryland.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the truck transportation industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: Truck transportation is a critical component of Maryland's logistics infrastructure, so this data provides important insights into the performance and productivity of this key industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to monitor the performance of Maryland's logistics sector and make informed decisions about transportation infrastructure investment and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Truck Transportation (484) in Maryland (MDTRUCKTRANRGSP), retrieved from FRED.