Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in South Carolina
SCTRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
250.50
Year-over-Year Change
47.27%
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 South Carolina. It provides insights into the performance and growth of this key sector 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
The Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in South Carolina series represents the inflation-adjusted value added by the transit and ground passenger transportation industry to the overall GDP of the state. This metric is widely used by economists and policymakers to analyze sectoral productivity and economic trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is closely monitored by transportation planners, infrastructure investors, and state economic development agencies.
Key Facts
- South Carolina's transit and ground passenger transportation sector accounts for over 1% of the state's total GDP.
- The industry has experienced steady growth, with real GDP increasing by 15% over the past decade.
- This economic trend is a key indicator of the state's transportation infrastructure investment and tourism activity.
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 South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of a crucial sector of South Carolina's economy, which is closely tied to infrastructure investment, tourism, and overall economic activity.
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 economic indicator is closely monitored by transportation planners, infrastructure investors, and state economic development agencies to inform policy decisions and investments.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, which is a standard delay for this type of economic statistic.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in South Carolina (SCTRANGRNDTRANRGSP), retrieved from FRED.