Monthly Output Index for the U.S. Transportation Sector
We develop a monthly output index of the U.S. Transportation sector over 1980:1-2002:4 covering air, rail, water, truck, transit and pipeline activities. Separate indexes for freight and passenger are also constructed. Our total transportation output index matches very well with the annual transportation output figures produced by the Bureau of Labor Statistics (BLS) and the Bureau of Economic Analysis (BEA). The strong cyclical movements in the transportation output appear to be more synchronized with the growth slowdowns rather than full-fledged recessions of the U.S. economy. The index has led the turning points of the six NBER-defined growth cycles over the period with an average lead-time of 6 months at peaks and 5 months at troughs.
|Date of creation:||2003|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, BA 110 University at Albany State University of New York Albany, NY 12222 U.S.A.|
Phone: (518) 442-4735
Fax: (518) 442-4736
|Order Information:|| Postal: Department of Economics, BA 110 University at Albany State University of New York Albany, NY 12222 U.S.A.|
Web: http://www.albany.edu/economics/research/workingp/index.shtml Email:
References listed on IDEAS
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- Victor Zarnowitz & Ataman Ozyildirim, 2002.
"Time Series Decomposition and Measurement of Business Cycles, Trends and Growth Cycles,"
NBER Working Papers
8736, National Bureau of Economic Research, Inc.
- Zarnowitz, Victor & Ozyildirim, Ataman, 2006. "Time series decomposition and measurement of business cycles, trends and growth cycles," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1717-1739, October.
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- Robert J. Gordon, 1992.
"Productivity in the Transportation Sector,"
in: Output Measurement in the Service Sectors, pages 371-427
National Bureau of Economic Research, Inc.
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- Robert H. McGuckin & Ataman Ozyildirim & Victor Zarnowitz, 2000.
"The Composite Index of Leading Economic Indicators: How to Make it More Timely,"
Economics Program Working Papers
00-04, The Conference Board, Economics Program.
- Robert H. McGuckin & Ataman Ozyildirim & Victor Zarnowitz, 2001. "The Composite Index of Leading Economic Indicators: How to Make It More Timely," NBER Working Papers 8430, National Bureau of Economic Research, Inc.
- Zarnowitz, Victor, 1992. "Business Cycles," National Bureau of Economic Research Books, University of Chicago Press, number 9780226978901.
- Layton, Allan P & Moore, Geoffrey H, 1989. "Leading Indicators for the Service Sector," Journal of Business & Economic Statistics, American Statistical Association, vol. 7(3), pages 379-86, July.
- Carol Corrado & Charles Gilbert & Richard D. Raddock, 1997. "Industrial production and capacity utilization: historical revision and recent developments," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Feb, pages 67-92.
- Atish R. Ghosh & Holger C. Wolf, 1997. "Geographical and Sectoral Shocks in the U.S. Business Cycle," NBER Working Papers 6180, National Bureau of Economic Research, Inc.
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