Gross Domestic Product: Construction (23) in Alabama
Quarterly, Seasonally Adjusted Annual Rate
ALCONSTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,109.80
Year-over-Year Change
25.97%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate measures the value of real gross state product, which reflects the total economic output of a state. This metric is critical for policymakers and analysts to assess a state's economic performance and growth.
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 Quarterly, Seasonally Adjusted Annual Rate represents the inflation-adjusted, annualized value of a state's total economic output. It is a key indicator of a state's economic health and productivity, used to inform policy decisions and track regional economic trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and government data.
Historical Context
Policymakers and economists rely on this data to evaluate a state's economic competitiveness, forecast growth, and inform policy decisions.
Key Facts
- This metric is reported quarterly by the Bureau of Economic Analysis.
- It is seasonally adjusted to account for recurring fluctuations in economic activity.
- The data is presented at an annualized rate to facilitate comparisons over time.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate measures the total economic output of a state, adjusted for inflation and presented at an annualized pace.
Q: Why is this trend relevant for users or analysts?
A: This metric is critical for evaluating a state's economic performance, competitiveness, and growth potential, which informs policy decisions and market analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and government data.
Q: How is this trend used in economic policy?
A: Policymakers and economists rely on this data to assess a state's economic health, forecast growth, and inform policy decisions that promote economic development and competitiveness.
Q: Are there update delays or limitations?
A: The data is reported quarterly, with a short delay to allow for data collection and processing.
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X08CBNMBNIAL
State Government Tax Collections, Other Selective Sales and Gross Receipts Taxes in Alabama
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Citation
U.S. Bureau of Economic Analysis, Quarterly, Seasonally Adjusted Annual Rate (ALCONSTNQGSP), retrieved from FRED.