Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Rhode Island
RIOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
326.50
Year-over-Year Change
18.90%
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 sector in Rhode Island. It provides insights into the performance and growth of this critical industry 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: Other Transportation and Support Activities (487-488, 492) in Rhode Island series tracks the inflation-adjusted output of businesses engaged in various transportation-related services, such as air, rail, and water transportation support activities, as well as courier and messenger services. This metric is used by economists and policymakers to assess the health and competitiveness of Rhode Island'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
This economic trend is relevant for understanding the broader transportation and logistics landscape in Rhode Island, which is crucial for the state's economic competitiveness and supply chain efficiency.
Key Facts
- Rhode Island's other transportation and support activities sector accounts for over 3% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the overall state economy.
- The performance of this sector is closely tied to the state's export activities and manufacturing base.
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 sector in Rhode Island, including air, rail, and water transportation support services, as well as courier and messenger services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of a critical industry within Rhode Island's economy, which is crucial for understanding the state's transportation infrastructure, logistics capabilities, and economic competitiveness.
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 and policymakers to assess the health and competitiveness of Rhode Island's transportation and logistics industry, which is crucial for supporting the state's export activities, manufacturing base, and overall economic growth.
Q: Are there update delays or limitations?
A: The data is typically published with a few months' delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Rhode Island (RIOTHTRANRGSP), retrieved from FRED.