Gross Domestic Product: All Industry Total in Indiana
INNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
527,381.10
Year-over-Year Change
75.05%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP): All Industry Total in Indiana metric measures the total economic output of all industries in the state of Indiana. This key indicator provides insights into the overall health and performance of Indiana'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 GDP: All Industry Total in Indiana represents the total value of goods and services produced within the state, serving as a comprehensive measure of economic activity. Economists and policymakers use this data to analyze trends, formulate economic policies, and assess the state's economic competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using various sources, including business surveys and government records.
Historical Context
This metric is widely used by government agencies, businesses, and researchers to inform decision-making and monitor economic conditions in Indiana.
Key Facts
- Indiana's GDP totaled $400 billion in 2021.
- The manufacturing sector accounts for over 30% of Indiana's GDP.
- Indiana's GDP growth rate has averaged 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP): All Industry Total in Indiana measures the total economic output of all industries within the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a comprehensive snapshot of Indiana's economic performance and is widely used by policymakers, businesses, and researchers to monitor economic conditions and inform decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using various sources, including business surveys and government records.
Q: How is this trend used in economic policy?
A: Governments, businesses, and analysts use Indiana's GDP data to assess the state's economic competitiveness, formulate policies, and make informed investment decisions.
Q: Are there update delays or limitations?
A: The GDP: All Industry Total in Indiana data is published quarterly, with a typical release delay of approximately two months.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: All Industry Total in Indiana (INNGSP), retrieved from FRED.