Gross Domestic Product: All Industry Total in Illinois
ILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,158,224.60
Year-over-Year Change
14.13%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) for Illinois measures the total economic output of all industries in the state. It is a key indicator of Illinois' economic health 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) for Illinois represents the total value of all goods and services produced within the state's borders. It is a comprehensive measure of economic activity and a widely used benchmark for evaluating the state's economic growth and development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of source data.
Historical Context
Illinois GDP trends are closely monitored by policymakers, businesses, and analysts to assess the state's economic conditions and outlook.
Key Facts
- Illinois GDP reached $896 billion in 2021.
- The state's GDP has grown by 2.3% annually on average over the past decade.
- Finance, insurance, and real estate are the largest contributors to Illinois' GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Illinois measures the total economic output of all industries within the state's borders.
Q: Why is this trend relevant for users or analysts?
A: Illinois GDP is a crucial indicator of the state's economic health and performance, providing insights for policymakers, businesses, and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of source data.
Q: How is this trend used in economic policy?
A: Illinois GDP trends are closely monitored by policymakers to assess the state's economic conditions and guide policy decisions.
Q: Are there update delays or limitations?
A: The Illinois GDP data is typically released on a quarterly basis, with some potential for minor revisions in subsequent releases.
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Citation
U.S. Federal Reserve, Gross Domestic Product: All Industry Total in Illinois (ILNQGSP), retrieved from FRED.