Real Gross Domestic Product: Transportation and Warehousing (48-49) in Utah
UTTRANSWARERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,130.40
Year-over-Year Change
4.97%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the transportation and warehousing industry in Utah. It provides valuable insights into the performance and growth of this critical 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 Real Gross Domestic Product: Transportation and Warehousing (48-49) in Utah series tracks the inflation-adjusted output of businesses in the transportation and warehousing industry, such as freight transportation, warehousing, and related support activities. This data is used by economists and policymakers to analyze the health and productivity of this industry and its contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This trend is closely monitored by industry stakeholders, economic analysts, and policymakers to inform decisions and policies related to infrastructure investment, transportation planning, and logistics strategies.
Key Facts
- Utah's transportation and warehousing industry accounts for approximately 4% of the state's total GDP.
- This sector has experienced steady growth over the past decade, reflecting the state's increasing role as a logistics hub.
- The COVID-19 pandemic had a temporary negative impact on this industry, but it has since rebounded to pre-pandemic levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the transportation and warehousing industry in the state of Utah, providing insights into the performance and productivity of this sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the health and growth of a critical industry within Utah's economy, which has implications for infrastructure investment, transportation planning, and logistics strategies.
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 methods.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by industry stakeholders, economic analysts, and policymakers to inform decisions and policies related to infrastructure investment, transportation planning, and logistics strategies.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule, but there may be occasional delays or revisions due to the complex nature of calculating GDP at the state and industry level.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transportation and Warehousing (48-49) in Utah (UTTRANSWARERQGSP), retrieved from FRED.