Gross Domestic Product: Wholesale Trade (42) in Illinois
ILWHOLENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94,077.90
Year-over-Year Change
12.10%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Wholesale Trade (42) in Illinois measures the economic output of the wholesale trade sector in the state. This metric is important for understanding regional economic trends and trade dynamics.
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: Wholesale Trade (42) in Illinois tracks the total value added by businesses in the wholesale trade industry, which includes activities like distributing goods and arranging for their transportation. This data provides insights into the health and productivity of a key component of the state's economy.
Methodology
This metric is calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and survey data.
Historical Context
Policymakers and analysts use this data to assess the performance of Illinois' wholesale trade sector and its contribution to the broader state economy.
Key Facts
- Illinois' wholesale trade sector accounts for over 6% of the state's GDP.
- Wholesale trade GDP in Illinois grew by 2.8% in 2021.
- The wholesale trade industry employs over 300,000 people in Illinois.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Wholesale Trade (42) in Illinois measures the total economic output of the wholesale trade sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the health and productivity of a key component of Illinois' economy, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this metric using a variety of economic indicators and survey data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the performance of Illinois' wholesale trade sector and its contribution to the broader state economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical update delay of 2-3 months.
Related Trends
Average Weekly Hours of Production Employees: Retail Trade in Illinois
SMU17000004200000007A
Average Hourly Earnings of Production Employees: Wholesale Trade: Wholesale Trade Agents and Brokers in Illinois
SMU17000004142500008
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ILWASTEQGSP
State Government Tax Collections, Total Taxes in Illinois
ILTOTLTAX
Retail Trade Wages and Salaries in Illinois
ILWRET
Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Illinois
ILRERENTLEARGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Wholesale Trade (42) in Illinois (ILWHOLENQGSP), retrieved from FRED.