Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Utah
UTWATTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141.74
Year-over-Year Change
701.76%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Utah measures the volume of economic activity in the water transportation industry within the state. This trend is a key indicator of the health and productivity of Utah's maritime and logistics sectors.
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
This index tracks changes in the real (inflation-adjusted) output of water transportation services in Utah over time. It is calculated using a chain-type formula that allows for more accurate measurement of volume changes across different periods.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
This economic trend is closely watched by policymakers, transportation planners, and industry analysts to gauge the performance and competitiveness of Utah's water transportation infrastructure and logistics networks.
Key Facts
- The index uses 2012 as the base year.
- Water transportation accounted for 1.2% of Utah's total real GDP in 2021.
- The index reached an all-time high of 122.89 in 2021.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Utah measures the real volume of economic activity in the water transportation industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health and productivity of Utah's maritime and logistics sectors, providing valuable insights for policymakers, transportation planners, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records, and calculated using a chain-type formula.
Q: How is this trend used in economic policy?
A: This economic trend is closely watched by policymakers, transportation planners, and industry analysts to gauge the performance and competitiveness of Utah's water transportation infrastructure and logistics networks.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Utah (UTWATTRANQGSP), retrieved from FRED.