Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in North Carolina
NCOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,784.70
Year-over-Year Change
58.81%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the other transportation and support activities industry in North Carolina. It provides insight into the performance and growth of this key sector of the state's economy.
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 real GDP of other transportation and support activities in North Carolina represents the inflation-adjusted total value of goods and services produced by businesses in industries such as air transportation, rail transportation, and support activities for transportation. This metric is used by economists and policymakers to assess the economic health and competitiveness 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 national accounting principles.
Historical Context
Monitoring trends in this industry can help inform policy decisions related to transportation infrastructure investment, logistics planning, and economic development strategies in North Carolina.
Key Facts
- North Carolina's other transportation and support activities industry accounts for over 3% of the state's total GDP.
- This industry has seen steady growth over the past decade, outpacing the overall state economy.
- Efficient transportation and logistics are critical to North Carolina's position as a major manufacturing and distribution hub in the Southeast.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the other transportation and support activities industry in North Carolina, including air, rail, and other transportation-related services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and growth of a key sector of North Carolina's economy, which is crucial for transportation infrastructure planning, logistics, and economic development.
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: Monitoring trends in this industry can help inform policy decisions related to transportation infrastructure investment, logistics planning, and economic development strategies in North Carolina.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag in availability.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in North Carolina (NCOTHTRANRGSP), retrieved from FRED.