Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Rhode Island
RITRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
287.30
Year-over-Year Change
98.96%
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 Rhode Island. It provides insights into the productivity and performance of this critical 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 Rhode Island series tracks the inflation-adjusted economic output of this industry, which includes local and intercity passenger transportation, such as bus, taxi, and limousine services. This metric is used by economists and policymakers to analyze the state's transportation infrastructure and its impact on economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the health and dynamics of Rhode Island's transportation sector and its broader economic implications.
Key Facts
- Rhode Island's transit and ground passenger transportation industry accounts for a significant portion of the state's GDP.
- This trend has shown fluctuations over time, reflecting changes in consumer demand and policy decisions.
- The performance of this sector is closely tied to the broader economic conditions in Rhode Island.
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 the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and performance of a critical transportation sector within Rhode Island's economy, which is important for understanding the state's economic growth and development.
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 analyze the state's transportation infrastructure and its impact on economic growth, which can inform policy decisions related to investment, regulation, and transportation planning.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision practices of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or revisions to previously reported figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Rhode Island (RITRANGRNDTRANRGSP), retrieved from FRED.