Gross Domestic Product: Retail Trade (44-45) in Connecticut
CTRETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,372.20
Year-over-Year Change
19.73%
Date Range
1/1/2005 - 1/1/2025
Summary
This data series measures the real gross domestic product (GDP) for the retail trade industry in the state of Connecticut. It provides insights into the economic performance and trends within this key sector.
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 Gross Domestic Product: Retail Trade (44-45) in Connecticut series represents the inflation-adjusted value added by the retail trade industry to the state's overall economic output. This metric is used by economists and policymakers to analyze the health and productivity of Connecticut's retail sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Trends in this series are monitored by government agencies, businesses, and investors to gauge the state's economic conditions and consumer spending patterns.
Key Facts
- Connecticut's retail GDP accounts for over 5% of the state's total economic output.
- The retail trade industry employs nearly 300,000 workers in Connecticut.
- Retail GDP growth is a key indicator of consumer confidence and spending in the state.
FAQs
Q: What does this economic trend measure?
A: This data series measures the real gross domestic product (GDP) generated by the retail trade industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: Trends in Connecticut's retail GDP provide insights into the health and performance of a crucial sector of the state's economy, with implications for consumer spending, employment, and overall economic conditions.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this series to gauge consumer spending patterns, business activity, and broader economic conditions in Connecticut, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so it may not reflect the most recent economic conditions. Additionally, the series is subject to periodic revisions by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Connecticut (CTRETAILNQGSP), retrieved from FRED.