Gross Domestic Product: Truck Transportation (484) in Minnesota
MNTRUCKTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,179.70
Year-over-Year Change
113.43%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Truck Transportation (484) in Minnesota measures the economic output of the truck transportation industry in the state. This metric is crucial for understanding regional economic trends and transportation infrastructure needs.
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 represents the real value added by the truck transportation industry in Minnesota, one of the key transportation and logistics hubs in the Midwest. The data is used by policymakers, analysts, and businesses to assess the health and evolution of the state's transportation sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in truck transportation GDP are monitored closely by state and federal agencies to inform infrastructure investment, economic development, and transportation policy decisions.
Key Facts
- Minnesota is a major transportation hub in the Midwest.
- Truck transportation accounts for over 3% of Minnesota's total GDP.
- This industry has seen steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real value added by the truck transportation industry to Minnesota's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Trends in truck transportation GDP provide insights into the strength of a key industry and infrastructure that supports the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected and 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 and agencies monitor this trend to inform infrastructure investment, economic development, and transportation policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Truck Transportation (484) in Minnesota (MNTRUCKTRANNGSP), retrieved from FRED.