Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Alabama
Quarterly, Seasonally Adjusted Annual Rate
ALAGRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,314.20
Year-over-Year Change
118.08%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the quarterly, seasonally adjusted annual rate of real gross state product (GSP) for Alabama. It provides a comprehensive view of the state's economic output and is a key indicator used by policymakers and analysts to assess economic performance.
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
Real gross state product (GSP) is the value of all goods and services produced within a state, adjusted for inflation. The quarterly, seasonally adjusted annual rate smooths out seasonal variations to show the underlying economic trend.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Quarterly GSP data is closely monitored by state governments, businesses, and economic research institutions to inform policy decisions and investment strategies.
Key Facts
- Alabama's real GSP was $236 billion in 2021.
- The state's economy grew at an annualized rate of 3.2% in Q4 2022.
- Manufacturing is a key driver of Alabama's economic output.
FAQs
Q: What does this economic trend measure?
A: This series measures the quarterly, seasonally adjusted annual rate of real gross state product (GSP) for the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: Quarterly GSP data is a comprehensive indicator of a state's economic performance and is closely monitored by policymakers, businesses, and economic researchers to inform decisions and strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: State-level GSP data is used by governments, businesses, and research institutions to assess economic conditions, make policy decisions, and develop investment strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (ALAGRNQGSP), retrieved from FRED.