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TET - Glossary, Acronyms and Initialisms


Entities owned by a unit or units from which the owners derive economic benefits by holding or using them.
Capital stock
Assets that are durable and expected to remain in service for at least one year. Examples of transportation capital stock include bridges, stations, highways, streets, and ports; and equipment such as automobiles, aircraft, and ships.
Chaining (chained dollars)
Method of inflation adjustment that allows for comparing dollar value changes between years.
Consumption goods
Assets that are expected to remain in service for less than a year.
Consumer Price Index (CPI)
Measure of changes in the prices paid by urban consumers for a representative basket of goods and services.
Cost of transportation
Monetary value of resources used to produce transportation services, including labor, equipment, fuel, and infrastructure.
Economic slowdown (deceleration)
Period when growth slows below normal rates.
Fixed assets
Produced assets used to produce other goods or services, including other fixed assets, for more than one year. Fixed transportation assets include transportation structures, motor vehicles, and equipment such as aircraft, ships, and boats.
Fixed investment
Investment in assets that take more than a year to consume.
For-hire transportation
Transportation operated on behalf of or by a company that provides services to external customers for a fee. For-hire transportation differs from private transportation services in which a firm transports its own freight and does not offer its transportation services to other shippers.
Gross Domestic Product (GDP)
The total value of goods and services produced by labor and property in the United States. As long as the labor and property are located in the United States, the suppliers may be United States or foreign residents.
Household transportation
Transportation provided by households for their own use using a personal vehicle.
In-house transportation
Transportation services provided within a firm whose main business is not transportation, such as a grocery store using its own truck fleet to move goods from warehouses to retail outlets.
Existing or traveling between cities.
Existing or traveling within the same city.
Inventories-to-sales ratio
The value of goods on shelves and warehouses divided by monthly sales. For example, a ratio of 2.5 would show that a business has enough goods to cover sales for 2.5 months
Multifactor productivity
Measure of economic performance that compares the amount of goods and services produced (output) to the amount of combined inputs used to produce those goods and services. Inputs can include labor, capital, energy, materials, and purchased services.
Negative externality
Negative effects on others that occur when people use transportation. Examples include traffic congestion and air pollution.
Nominal dollars
Dollar amount that reflects current prices and quantities current at the time the measure was taken, and does not take inflation into account.
Own-source revenue
Taxes and charges levied on transportation-related activities and used specifically for transportation.
Passenger mile
One passenger transported one mile. For example, one vehicle traveling 3 miles carrying 5 passengers generates 15 passenger-miles.
Price of transportation-related goods and services
Reflects the cost of resources used to produce the transportation-related good or service plus mark-up and tax.
Producers of transportation services
Firms that carry out transportation operations to move people and goods. May not necessarily be the providers.
Producer Price Index (PPI)
Measure of the average change over time in the selling prices received by domestic producers for their output.
Measure of economic performance that equals the ratio of total output to the inputs used in the production process. Inputs may include capital, labor, energy, materials, and services.
Providers of transportation services
Firms that carry out transportation operations to move people and goods or arrange transportation services to move people and goods (e.g., freight forwarders and freight brokers).
Public-private partnerhsip (PPP)
Contractual agreement formed between public and private sector partners.
Users, who may be either households—known as consumers—or businesses.
Real dollars
Dollar amount adjusted for changes in prices over time due to inflation.
Seasonal adjustment
Statistical method for estimating and removing seasonal movement from a time series.
Supporting revenue
Funds collected from non-transportation-related activities but dedicated to support transportation programs.
Unit of measure equal to movement of 1 ton over 1 mile.
Transportation infrastructure
Structures that support a transportation system, including highways and streets, bridges, railroads, and other transportation structures. It does not include transportation equipment like motor vehicles, aircraft, and ships.
Transportation investment
Spending on transportation assets that take more than a year to consume.
Transportation-related final demand
Measure of the expenditures by households, private firms, and the government on final goods and services related to transportation. It includes personal consumption expenditures, private investment, government purchases, and net exports related to transportation goods and services.
Transportation Services Index (TSI)
Monthly measure showing the relative change in the volume of services over time performed by the for-hire transportation sector. The TSI covers the activities of for-hire freight carriers, for-hire passenger carriers, and a combination of the two.
Unlinked trips
Number of passengers boarding public transportation vehicles. Passengers are counted each time they board vehicles, no matter how many vehicles they use to travel from their origin to their destination.
Users of transportation services
Purchasers of transportation. May be households (consumers) or businesses.
Value added
Contribution of industry to GDP, measured by total output (industry revenue) less the costs of inputs.

Acronyms and Initialisms

Acronym or Initialism



American Automobile Association


American Association of State Highway and Transportation Officials


Bureau of Economic Analysis


Bureau of Labor Statistics


Bureau of Transportation Statistics


Consumer Expenditure Survey


Consumer Price Index


Consumer Price Index for all Urban Consumers


Energy Information Administration


Federal Highway Administration


Gross Domestic Demand


Gross Domestic Product


Industry Productivity Studies


Multifactor Productivity


Major Sector Productivity


North American Industry Classification System


National Highway Construction Cost Index


National Household Travel Survey


National Income and Product Accounts


Occupational Employment Statistics


Personal Consumption Expenditures


Producer Price Index


Standard Occupational Classification


State Transportation Statistics


Transportation Statistics Annual Report


Transportation Satellite Accounts


Transportation Services Index


Vehicle Miles Traveled

Updated: Tuesday, January 8, 2019