Real Gross Domestic Product: Retail Trade (44-45) in Arkansas
ARRETAILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,662.80
Year-over-Year Change
51.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Retail Trade (44-45) in Arkansas measures the inflation-adjusted economic output of the retail trade sector in the state of Arkansas. This metric is important for analyzing the health and growth of Arkansas' consumer-driven 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 tracks the real, inflation-adjusted value added by the retail trade industry, which includes stores that sell merchandise to the general public, to Arkansas' overall gross domestic product. It is a key indicator of consumer spending and economic activity in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Policymakers and analysts use this metric to assess the performance and trends within Arkansas' retail sector and its broader economic conditions.
Key Facts
- Arkansas' retail GDP accounted for 11.2% of the state's total GDP in 2021.
- The retail trade sector employed over 180,000 workers in Arkansas as of 2022.
- Real retail GDP in Arkansas grew by 2.5% in 2021 after declining 1.7% in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted economic output or value added by the retail trade sector in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of consumer spending and economic activity in Arkansas, providing insights into the health and growth of the state's retail industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the performance and trends within Arkansas' retail sector and its broader economic conditions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Retail Trade (44-45) in Arkansas (ARRETAILRGSP), retrieved from FRED.