Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Wisconsin
WITRANGRNDTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,754.30
Year-over-Year Change
56.40%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the transit and ground passenger transportation industry in Wisconsin. It provides insight into the performance and contribution of this sector to the state's overall economic activity.
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: Transit and Ground Passenger Transportation (485) in Wisconsin metric tracks the inflation-adjusted output of the transportation and warehousing industry within the state. It is a key indicator for understanding the health and growth of this crucial economic segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to assess the economic conditions and outlook for the transportation sector in Wisconsin.
Key Facts
- The transportation and warehousing industry accounts for approximately 4% of Wisconsin's GDP.
- This trend has shown steady growth over the past decade, reflecting the importance of the sector to the state's economy.
- Real GDP for the transit and ground passenger transportation industry in Wisconsin reached a record high in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the transit and ground passenger transportation industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and contribution of the transportation sector to Wisconsin's overall economic activity, which is crucial for 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic conditions and outlook for the transportation sector in Wisconsin, which informs decision-making and policy interventions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in release.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Wisconsin (WITRANGRNDTRANRGSP), retrieved from FRED.