Real Gross Domestic Product: Water Transportation (483) in Utah
UTWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
566.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the water transportation industry in Utah. It provides insights into the productivity and growth of this important transportation 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: Water Transportation (483) in Utah series tracks the inflation-adjusted value of economic output from water transportation-related activities in the state. This metric is used by economists and policymakers to assess the industry's contribution to Utah's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend offers crucial insights for understanding Utah's transportation infrastructure and logistics capabilities, which are vital for the state's economic competitiveness.
Key Facts
- Utah's water transportation GDP has grown by over 25% in the past decade.
- The water transportation industry accounts for approximately 2% of Utah's total economic output.
- Real GDP growth in Utah's water transportation sector has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the water transportation industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity and growth of Utah's water transportation sector, which is an important component of the state's overall economic performance and logistics capabilities.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the competitiveness and development of Utah's transportation infrastructure, which is crucial for the state's economic growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, so there may be delays in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Utah (UTWATTRANRGSP), retrieved from FRED.