Chain-Type Quantity Index for Real GDP: Educational Services (61) in Alabama
Annual, Not Seasonally Adjusted
ALEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.06
Year-over-Year Change
-5.87%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the level of real gross state product (GSP) by U.S. state. It provides a comprehensive overview of economic activity and output at the state level.
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 annual, non-seasonally adjusted GSP series offers a standardized measure of the total value of goods and services produced within each state's economy. It is a key indicator used by economists, policymakers, and businesses to analyze regional economic trends and performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry surveys and economic accounts.
Historical Context
The GSP data informs federal, state, and local economic policy decisions and business investment strategies.
Key Facts
- GSP represents the total economic output of a U.S. state.
- Annual GSP data is reported with a 1-year lag.
- California had the largest state economy in 2021 with a GSP of $3.36 trillion.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series measures the total inflation-adjusted value of goods and services produced within each U.S. state's economy.
Q: Why is this trend relevant for users or analysts?
A: The GSP data is a comprehensive indicator of regional economic performance and is crucial for policymakers, businesses, and economists analyzing state-level growth and competitiveness.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects industry and economic survey data to calculate the annual, non-seasonally adjusted GSP for each state.
Q: How is this trend used in economic policy?
A: State-level GSP data informs federal, state, and local policymaking by providing insights into regional economic conditions, growth, and competitiveness.
Q: Are there update delays or limitations?
A: The GSP data has a 1-year reporting lag, so the most recent annual figures may not reflect the current economic climate.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ALEDCATQGSP), retrieved from FRED.