Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Rhode Island
RIRAILTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71.49
Year-over-Year Change
20.12%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Rhode Island measures the inflation-adjusted output of the rail transportation industry in the state. This metric is important for economists and policymakers to understand industry-level economic trends and the overall health of 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
This index tracks the real, volume-based output of the rail transportation sector in Rhode Island. It is used to assess the productivity and relative performance of this key infrastructure industry within the state's broader economic context.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Rail transportation trends provide insights into the flow of goods, services, and economic activity within Rhode Island and across regional supply chains.
Key Facts
- The index has a base year of 2012.
- Rail accounts for over 10% of Rhode Island's total transportation GDP.
- The index reached a high of 110.4 in 2018.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the rail transportation industry in Rhode Island. It tracks the volume-based productivity of this key sector.
Q: Why is this trend relevant for users or analysts?
A: Rail transportation data provides important insights into Rhode Island's economic performance and the flow of goods, services, and activity within the state and across regional supply chains.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze rail transportation trends to understand industry-level economic activity and inform decisions related to infrastructure, logistics, and regional economic development.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Rail Transportation (482) in Rhode Island (RIRAILTRANQGSP), retrieved from FRED.