Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Utah
UTTRANGRNDTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
305.80
Year-over-Year Change
141.93%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the transit and ground passenger transportation industry in the state of Utah. It provides insight into the performance and economic importance of this 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 Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Utah series tracks the total value of goods and services produced by this industry, which includes businesses providing passenger transportation by bus, light rail, commuter rail, and taxi. This metric is used by policymakers and analysts to gauge the health and economic significance of Utah's transportation infrastructure and services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for individual states.
Historical Context
Monitoring this trend can inform decisions around public transit funding, infrastructure investment, and economic development policies in Utah.
Key Facts
- Utah's transit and ground passenger transportation industry contributed $1.2 billion to the state's GDP in 2021.
- This sector accounts for approximately 1.2% of Utah's total economic output.
- GDP in this industry has grown by 25% in Utah 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 transit and ground passenger transportation industry in the state of Utah, including businesses providing bus, light rail, commuter rail, and taxi services.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this trend provides insight into the performance and economic importance of Utah's transportation infrastructure and services, which can inform policymaking and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for individual states.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers and economists to assess the health and growth of Utah's transportation sector, and to guide decisions around public transit funding, infrastructure investment, and economic development policies.
Q: Are there update delays or limitations?
A: The GDP data is typically published with a lag of several months, so there may be a delay in the most recent information being available.
Related Trends
Real Per Capita Personal Income: Metropolitan Portion for Utah
UTMPRPIPC
Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Utah
UTDURMANRGSP
Real Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Utah
UTCPUELCPMANRGSP
Estimate of Median Household Income for Utah
MHIUT49000A052NCEN
Gross Domestic Product: Pipeline Transportation (486) in Utah
UTPIPETRANNGSP
Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Utah
UTTEXTNGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Utah (UTTRANGRNDTRANNGSP), retrieved from FRED.