Gross Domestic Product: Pipeline Transportation (486) in Utah
UTPIPETRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.30
Year-over-Year Change
29.22%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the Gross Domestic Product (GDP) for the pipeline transportation industry in the state of Utah. It provides important insights into the performance and growth of this critical infrastructure sector 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 GDP for pipeline transportation in Utah reflects the total economic output of companies engaged in the transportation of natural gas, crude oil, refined petroleum products, and other commodities through pipeline networks. This data is a key indicator for monitoring the health and activity levels of Utah's energy and logistics industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounts (NIPA) methodologies.
Historical Context
Policymakers and industry analysts use this metric to assess the contribution of pipeline transportation to Utah's overall economic performance and to inform infrastructure investment decisions.
Key Facts
- Utah's pipeline transportation GDP was $1.3 billion in 2021.
- This sector accounts for approximately 1% of Utah's total economic output.
- Pipeline transportation GDP in Utah has grown by 25% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) contribution of the pipeline transportation industry in the state of Utah, including the transportation of natural gas, crude oil, and other commodities.
Q: Why is this trend relevant for users or analysts?
A: This data is important for monitoring the performance and economic impact of Utah's energy infrastructure, which is critical for the state's energy and logistics sectors.
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 income and product accounts (NIPA) methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the contribution of pipeline transportation to Utah's overall economic performance and to inform infrastructure investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a short delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Pipeline Transportation (486) in Utah (UTPIPETRANNGSP), retrieved from FRED.