Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Hawaii
Annual, Not Seasonally Adjusted
HINDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.85
Year-over-Year Change
34.97%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted economic trend measures the total value of goods and services produced in the United States over a one-year period, without adjusting for seasonal variations. This metric is a key indicator of overall economic growth and performance.
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 (GDP) is the broadest measure of economic activity in the United States. The Annual, Not Seasonally Adjusted GDP data provides a snapshot of the nation's economic health without accounting for typical seasonal fluctuations throughout the year.
Methodology
The U.S. Bureau of Economic Analysis calculates GDP based on data from surveys, administrative records, and other sources.
Historical Context
Policymakers and analysts use this GDP metric to assess the current state of the economy and make informed decisions.
Key Facts
- The U.S. GDP reached a record high of $23.9 trillion in 2021.
- GDP growth averaged 2.3% per year from 2010 to 2019.
- The COVID-19 pandemic caused a 3.4% decline in GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted GDP trend measures the total value of goods and services produced in the United States over a one-year period, without adjusting for typical seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: This GDP metric is a key indicator of overall economic growth and performance, which is crucial for policymakers, businesses, and consumers to understand the current state of the U.S. economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates GDP based on data from surveys, administrative records, and other sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this GDP metric to assess the current state of the economy and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The annual GDP data is typically released several months after the end of the calendar year, with periodic revisions to account for updated information.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (HINDURMANQGSP), retrieved from FRED.