Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Pennsylvania
PATRANSWAREQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.77
Year-over-Year Change
28.94%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Pennsylvania measures the real output of the transportation and warehousing industry in the state. This metric is important for economists and policymakers to gauge the productivity and growth of a key component of Pennsylvania'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
This index provides a measure of the real (inflation-adjusted) output of the transportation and warehousing industry in Pennsylvania. It allows analysts to track changes in the volume of economic activity in this sector over time, which is crucial for understanding broader economic trends and conditions in the state.
Methodology
The data is calculated based on Bureau of Economic Analysis (BEA) estimates of real GDP by industry.
Historical Context
Policymakers and economists use this metric to assess the performance and contribution of the transportation and logistics sector to Pennsylvania's overall economic growth.
Key Facts
- The transportation and warehousing industry accounts for over 5% of Pennsylvania's GDP.
- This index uses a chain-type quantity formula to measure real output changes.
- The index is a key indicator of productivity and growth in a critical economic sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) output of the transportation and warehousing industry in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the productivity and growth of a crucial component of Pennsylvania's economy.
Q: How is this data collected or calculated?
A: The data is calculated based on Bureau of Economic Analysis (BEA) estimates of real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the performance and contribution of the transportation and logistics sector to Pennsylvania's overall economic growth.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and any revisions made by the BEA.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Pennsylvania (PATRANSWAREQGSP), retrieved from FRED.