Gross Domestic Product: Transportation and Warehousing (48-49) in Wisconsin
WITRANSWARENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,849.10
Year-over-Year Change
76.38%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) for the transportation and warehousing industry in the state of Wisconsin. 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 Gross Domestic Product (GDP) for the transportation and warehousing industry in Wisconsin is a key economic indicator that tracks the total value of goods and services produced by this sector. It helps policymakers and analysts understand the relative importance and trends within this industry, which is a major contributor to the state's economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methods.
Historical Context
This GDP metric is widely used by economists, policymakers, and businesses to assess the health and direction of Wisconsin's transportation and logistics industries.
Key Facts
- Wisconsin's transportation and warehousing sector accounts for over 5% of the state's total GDP.
- This industry has seen steady growth, with an average annual increase of 2.5% over the past decade.
- The COVID-19 pandemic had a significant impact, leading to a 6.2% decline in 2020 before a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the transportation and warehousing industry in the state of Wisconsin. It captures the total value of goods and services produced by this sector.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of Wisconsin's transportation and logistics industries, which are critical contributors to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this GDP metric to assess the health and direction of Wisconsin's transportation and logistics industries, which informs decision-making and policy development.
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.
Related Trends
Employment Level for Wisconsin
EMPLOYWI
Unemployment Rate in Wisconsin
WIUR
All Employees: Education and Health Services: Nursing Care Facilities (Skilled Nursing Facilities) in Wisconsin
SMU55000006562310001
Average Weekly Hours of All Employees: Leisure and Hospitality in Wisconsin
SMU55000007000000002A
Average Hourly Earnings of All Employees: Private Service Providing in Wisconsin
SMU55000000800000003
Chain-Type Quantity Index for Real GDP: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Wisconsin
WIRENTQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Warehousing (48-49) in Wisconsin (WITRANSWARENGSP), retrieved from FRED.