Gross Domestic Product: Construction (23) in Georgia
This dataset tracks gross domestic product: construction (23) in georgia over time.
Latest Value
45438.20
Year-over-Year Change
20.61%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Construction (23) in Georgia measures the economic output of the construction sector in the state. This data is crucial for understanding Georgia'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
This series represents the contribution of the construction industry to Georgia's overall gross domestic product. It is an important indicator of the state's economic health and can provide insights into factors influencing construction activity, investment, and employment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
Policymakers and analysts use this data to assess the state's economic conditions and make informed decisions.
Key Facts
- Georgia's construction sector accounts for approximately 5% of the state's total GDP.
- The construction industry in Georgia employs over 200,000 workers.
- Construction activity in Georgia has grown by an average of 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the economic output of the construction industry in the state of Georgia, a key component of the state's overall gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding Georgia's economic performance and growth, as the construction sector plays a significant role in the state's economy.
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 accounts methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the state's economic conditions and make informed decisions, such as in infrastructure planning and investment.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Construction (23) in Georgia (GACONSTNQGSP), retrieved from FRED.