Real Gross Domestic Product: Transportation and Warehousing (48-49) in North Carolina
Annual, Not Seasonally Adjusted
NCTRANSWARERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,618.30
Year-over-Year Change
41.72%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures real gross state product (GSP) for the transportation and warehousing industry in North Carolina, providing a gauge of economic activity in this key sector.
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
Real GSP is a comprehensive measure of the total economic output of an industry or state, adjusted for inflation. The transportation and warehousing industry is a critical component of the broader state economy, facilitating the movement of goods and services.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government surveys and economic indicators.
Historical Context
This trend is closely monitored by policymakers and industry analysts to understand broader economic trends and inform decisions.
Key Facts
- North Carolina's transportation and warehousing industry accounts for over 5% of the state's total economic output.
- Real GSP in this industry has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a significant but temporary decline in transportation and warehousing activity in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross state product (GSP) for the transportation and warehousing industry in North Carolina, providing a gauge of economic activity in this key sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely monitored by policymakers and industry analysts to understand broader economic trends and inform decisions related to the transportation and logistics sectors in North Carolina.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government surveys and economic indicators.
Q: How is this trend used in economic policy?
A: This trend provides important insights into the performance of a critical industry, which policymakers and analysts use to inform decisions about infrastructure investment, economic development, and other policy initiatives.
Q: Are there update delays or limitations?
A: The data is released annually with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (NCTRANSWARERGSP), retrieved from FRED.