Gross Domestic Product: All Industry Total in Alabama
ALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
321,237.60
Year-over-Year Change
70.62%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: All Industry Total in Alabama measures the total economic output of all industries within the state. This key indicator provides insight into the overall health and growth of Alabama's economy.
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 series represents the total value added by all industries located in Alabama, which is a comprehensive measure of economic activity and production. It is widely used by economists, policymakers, and analysts to assess Alabama's economic performance and trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources.
Historical Context
Trends in Alabama's GDP are closely monitored to inform economic and policy decisions at the state and national level.
Key Facts
- Alabama's GDP was $236 billion in 2021.
- The state's GDP grew by 4.2% in 2021 after a 2.0% decline in 2020.
- The largest industry contributors to Alabama's GDP are manufacturing, finance, and healthcare.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: All Industry Total in Alabama measures the total economic output of all industries located within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a comprehensive view of Alabama's economic performance and is widely used by economists, policymakers, and analysts to assess the state's growth and overall economic health.
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.
Q: How is this trend used in economic policy?
A: Trends in Alabama's GDP are closely monitored to inform economic and policy decisions at the state and national level.
Q: Are there update delays or limitations?
A: The GDP data for Alabama is published on a quarterly basis with a delay of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: All Industry Total in Alabama (ALNGSP), retrieved from FRED.