Real Gross Domestic Product: Pipeline Transportation (486) in Utah
UTPIPETRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.30
Year-over-Year Change
-21.10%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the pipeline transportation industry in the state of Utah. It provides insight into the performance and economic contribution of this critical infrastructure 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
The Real Gross Domestic Product: Pipeline Transportation (486) in Utah series tracks the inflation-adjusted value added by the pipeline transportation industry to the state's overall economic output. This metric is used by economists and policymakers to analyze the productivity and growth trends within Utah's energy and transportation sectors.
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 helps inform infrastructure investment decisions and energy policy at the state and local level.
Key Facts
- Utah's pipeline transportation industry contributed $1.2 billion to the state's GDP in 2021.
- Real GDP in this sector grew by 3.5% annually on average from 2010 to 2021.
- Pipeline transportation accounts for approximately 0.7% of Utah's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the pipeline transportation industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic contribution of Utah's critical energy infrastructure, which is useful for evaluating investment decisions and energy policy.
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 indicator helps inform infrastructure investment decisions and energy policy at the state and local level in Utah.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Pipeline Transportation (486) in Utah (UTPIPETRANRGSP), retrieved from FRED.