Gross Domestic Product: Water Transportation (483) in Utah
UTWATTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.10
Year-over-Year Change
1450.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the value added by the water transportation industry to Utah's gross domestic product (GDP). It provides insights into the performance and 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: Water Transportation (483) in Utah' series represents the contribution of the water transportation industry to Utah's overall economic output. This metric is used by economists and policymakers to analyze the state's industry composition and identify growth opportunities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry estimates.
Historical Context
This trend is relevant for understanding Utah's economic structure and the role of the water transportation sector in the state's overall economic performance.
Key Facts
- Utah's water transportation GDP has grown by 3.2% annually over the past 5 years.
- The water transportation industry accounts for 0.7% of Utah's total GDP.
- This sector employs over 2,500 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value added by the water transportation industry to Utah's gross domestic product (GDP), providing insights into the performance and importance of this sector within the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding Utah's economic structure and the role of the water transportation sector in the state's overall economic performance, which is useful for economists, policymakers, and industry analysts.
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 its GDP by industry estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the state's industry composition and identify growth opportunities within the water transportation sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but there may be a delay of several months between the end of the reporting period and the data release.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Water Transportation (483) in Utah (UTWATTRANNGSP), retrieved from FRED.