Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Rhode Island
RIWATTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.57
Year-over-Year Change
10.18%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Rhode Island measures the real economic output of the water transportation industry in the state, providing insights into this important sector.
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 volume of real economic activity in Rhode Island's water transportation industry, including businesses involved in shipping, port operations, and related services. It is a key indicator for analysts and policymakers examining trends in the state's maritime economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach that adjusts for inflation.
Historical Context
Monitoring this index can help inform decisions around infrastructure investment, trade policy, and economic development strategies.
Key Facts
- The index has a base year of 2012.
- Water transportation is a vital component of Rhode Island's economy.
- The index reflects changes in the real volume of economic activity, not just nominal dollar values.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the water transportation industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this index provides insights into the performance and economic contribution of Rhode Island's maritime sector, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to adjust for inflation.
Q: How is this trend used in economic policy?
A: This index can inform decisions around infrastructure investment, trade policy, and economic development strategies related to Rhode Island's water transportation industry.
Q: Are there update delays or limitations?
A: The index data is published regularly by the U.S. Federal Reserve, but may be subject to revision and update delays typical of economic statistics.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Rhode Island (RIWATTRANQGSP), retrieved from FRED.