Real Gross Domestic Product: Rail Transportation (482) in South Carolina
SCRAILTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
279.10
Year-over-Year Change
-11.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the rail transportation sector in South Carolina. It is an important economic indicator for understanding the performance and productivity of the state's transportation infrastructure.
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: Rail Transportation (482) in South Carolina series tracks the inflation-adjusted economic output of the rail transportation industry within the state. This data point is used by economists and policymakers to assess the health and growth of the transportation sector, which is a critical component of South Carolina's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-specific GDP formulas.
Historical Context
Trends in rail transportation GDP provide insight into the broader economic conditions and investment decisions affecting South Carolina's transportation networks and logistics infrastructure.
Key Facts
- South Carolina's rail transportation GDP reached a record high in 2019.
- The rail sector accounts for approximately 2% of the state's total economic output.
- Real rail GDP declined in 2020 due to the COVID-19 pandemic's impact on transportation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the rail transportation industry in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: Tracking the rail transportation GDP provides insights into the performance and productivity of a critical component of South Carolina's transportation infrastructure, which has broad implications for the state's overall economic activity and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-specific GDP formulas.
Q: How is this trend used in economic policy?
A: Trends in rail transportation GDP are used by economists, policymakers, and transportation agencies to assess the health of South Carolina's logistics networks and inform infrastructure investment and policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rail Transportation (482) in South Carolina (SCRAILTRANRGSP), retrieved from FRED.