Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Illinois
ILFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
660.30
Year-over-Year Change
86.53%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in Illinois. It provides insights into the performance and growth of this important part of the state'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
The Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Illinois series tracks the inflation-adjusted economic output of the forestry, fishing, and supporting activities industries in the state. This metric is a key indicator of the overall health and productivity of these natural resource-based sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information.
Historical Context
This economic trend is closely monitored by policymakers, industry groups, and economic analysts to assess the strength and trajectory of Illinois' natural resource-dependent industries.
Key Facts
- The forestry, fishing, and related activities sector accounts for roughly 1% of Illinois' total GDP.
- Real GDP in this sector has grown by 12% in Illinois over the past 5 years.
- Fishing and aquaculture make up the largest share of this industry group in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of Illinois' natural resource-dependent industries, which are important to the state's overall economic health and development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information.
Q: How is this trend used in economic policy?
A: This economic trend is closely monitored by policymakers, industry groups, and economic analysts to assess the strength and trajectory of Illinois' forestry, fishing, and related activities sectors.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
Related Trends
All Employees: Other Services: Personal and Laundry Services in Illinois
SMU17000008081200001
Real Gross Domestic Product: Transportation and Warehousing (48-49) in Illinois
ILTRANSWARERGSP
Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Illinois
ILPCEPCFDSRVACCMD
Implicit Regional Price Deflator for Illinois
ILIRPD
Real Gross Domestic Product: Wood Product Manufacturing (321) in Illinois
ILWPMANRGSP
Per Capita Personal Consumption Expenditures: Services: Recreation Services for Illinois
ILPCEPCSRECSRV
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Illinois (ILFRSTFISHRGSP), retrieved from FRED.