Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Alabama
Quarterly, Seasonally Adjusted Annual Rate
ALAGRRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,947.80
Year-over-Year Change
132.48%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate measures the seasonally adjusted annualized change in real gross state product for Alabama. This indicator provides insights into the state's economic growth and 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
This economic trend represents the seasonally adjusted annualized rate of change in real gross state product (GSP) for the state of Alabama. It is a key measure of economic activity and growth that is closely monitored by policymakers and analysts.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used to assess the economic health and trajectory of Alabama's economy.
Key Facts
- Alabama's GSP grew 3.2% in 2021.
- The state's economy contracted 2.9% in 2020 due to the COVID-19 pandemic.
- Manufacturing is a key driver of Alabama's economy.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate measures the annualized change in real gross state product for Alabama, adjusting for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the pace and direction of Alabama's economic growth, which is crucial for policymakers, businesses, and investors.
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: Policymakers and analysts use this trend to assess the economic health of Alabama and inform decisions related to fiscal, monetary, and economic development policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly, with a lag of several months.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (ALAGRRQGSP), retrieved from FRED.