Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in North Carolina
NCTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
669.50
Year-over-Year Change
33.79%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the transit and ground passenger transportation industry in North Carolina. It provides insights into the performance and growth of this key 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: Transit and Ground Passenger Transportation (485) in North Carolina metric tracks the inflation-adjusted output of businesses involved in public transportation, charter buses, taxis, and other ground passenger services. It is an important indicator of economic activity and productivity in North Carolina's transportation infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This trend is closely monitored by policymakers, transportation planners, and economic analysts to understand the health and dynamics of North Carolina's transit and passenger transportation industry.
Key Facts
- North Carolina's transit and ground passenger transportation sector accounts for over 1% of the state's total GDP.
- This industry has seen steady growth, outpacing the overall state economy in recent years.
- The COVID-19 pandemic significantly impacted ridership and revenues for North Carolina's public transit providers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the transit and ground passenger transportation industry in North Carolina, providing insights into the performance and productivity of this key transportation sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers, transportation planners, and economic analysts to understand the health and dynamics of North Carolina's transit and passenger transportation industry, which is an important component of the state's overall 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 standard GDP accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, transportation agencies, and economic analysts to inform infrastructure investment decisions, service planning, and economic development strategies related to North Carolina's transit and passenger transportation sector.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be lags in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in North Carolina (NCTRANGRNDTRANRGSP), retrieved from FRED.