Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in North Carolina
NCOTHTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,837.90
Year-over-Year Change
149.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the transportation and support activities sector in North Carolina. It is an important indicator of the state's economic performance and productivity in this key industry.
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
The NCOTHTRANNGSP series represents the GDP for the transportation and support activities sector, which includes air, rail, water, and pipeline transportation, as well as support activities like cargo handling, storage, and distribution. This data provides insights into the overall health and growth of North Carolina's transportation infrastructure and logistics industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methods.
Historical Context
Transportation and logistics are crucial for North Carolina's economy, enabling the movement of goods, people, and services across the state and beyond.
Key Facts
- North Carolina's transportation and support activities sector accounts for over 4% of the state's total GDP.
- The GDP for this sector has grown by an average of 2.5% annually over the past 5 years.
- Air transportation and support services make up the largest portion of this industry in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the transportation and support activities sector in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and productivity of North Carolina's critical transportation and logistics industry, which is a key driver of the state's overall economic growth.
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 GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the health and competitiveness of North Carolina's transportation infrastructure, informing decisions about infrastructure investment, economic development, and other policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in North Carolina (NCOTHTRANNGSP), retrieved from FRED.