Real Gross Domestic Product: Rail Transportation (482) in North Carolina
NCRAILTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
358.90
Year-over-Year Change
-15.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rail transportation industry in North Carolina. It provides valuable insights into the performance and growth of this critical transportation sector within 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 Gross Domestic Product: Rail Transportation (482) in North Carolina series represents the inflation-adjusted value added by the rail transportation industry to the state's overall economic output. This metric is widely used by economists and policymakers to assess the health and productivity of this important transportation mode.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the state's transportation infrastructure, logistics capabilities, and the role of rail in supporting broader economic activity.
Key Facts
- North Carolina's rail transportation industry contributes over $2 billion to the state's GDP.
- Rail transport accounts for approximately 4% of North Carolina's total economic output.
- The state's rail transportation GDP has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the rail transportation industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of the rail transportation sector, which is a critical component of North Carolina's overall economic activity and infrastructure.
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: This trend is used by economists, policymakers, and transportation planners to assess the state's logistics capabilities, investment needs, and the role of rail in supporting broader economic development.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, but it provides a reliable and comprehensive measure of the rail transportation industry's contribution to North Carolina's GDP.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rail Transportation (482) in North Carolina (NCRAILTRANRGSP), retrieved from FRED.