Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Rhode Island
RITRANSUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,317.20
Year-over-Year Change
26.74%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the transportation and utilities sector in Rhode Island. It provides valuable insights into the performance and growth of these key industries 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: Transportation and Utilities (22, 48-49) in Rhode Island series tracks the inflation-adjusted economic output of the transportation and utilities industries in the state. This metric is used by economists and policymakers to assess the health and productivity of these vital sectors, which are critical to the state's overall economic development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
This trend is closely monitored by state and federal policymakers to inform infrastructure investment, regulatory decisions, and economic development strategies.
Key Facts
- Rhode Island's transportation and utilities sector accounts for approximately 4% of the state's total GDP.
- The sector has experienced steady growth over the past decade, with an average annual increase of 2.5%.
- Investments in infrastructure, such as roads, bridges, and utility networks, are critical to maintaining the sector's productivity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the transportation and utilities sector in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of two key industries that are critical to Rhode Island's economic development and infrastructure.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal policymakers to inform infrastructure investment, regulatory decisions, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months. There may be limitations in the underlying data sources or methodologies used by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Utilities (22, 48-49) in Rhode Island (RITRANSUTILRGSP), retrieved from FRED.