Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Utah
UTOTHTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,639.60
Year-over-Year Change
127.88%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for the other transportation and support activities industry in Utah. It provides insight into the performance and contribution of this sector to the state's overall economic output.
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: Other Transportation and Support Activities (487-488, 492) in Utah series tracks the inflation-adjusted value added by this industry to the state's GDP. It is a key indicator of the productivity and growth dynamics within the transportation and logistics support services in Utah.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of Utah's transportation and logistics infrastructure.
Key Facts
- Utah's other transportation and support activities industry accounts for over 4% of the state's GDP.
- This sector has seen steady growth, expanding by 2.5% annually on average over the past decade.
- The COVID-19 pandemic temporarily disrupted this industry, leading to a 6.4% decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) contribution of the other transportation and support activities industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and competitiveness of Utah's transportation and logistics support services, which are critical to the state's economic growth and competitiveness.
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: Policymakers, economists, and industry analysts closely monitor this metric to assess the health and competitiveness of Utah's transportation and logistics infrastructure, which informs economic development strategies and infrastructure investment decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month lag, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Utah (UTOTHTRANRGSP), retrieved from FRED.