Real Gross Domestic Product: Accommodation and Food Services (72) in Maryland
Annual, Not Seasonally Adjusted
MDACCFDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,152.20
Year-over-Year Change
10.73%
Date Range
1/1/1997 - 1/1/2024
Summary
The annual, not seasonally adjusted Gross Domestic Product (GDP) measures the total economic output of the United States. This key macroeconomic indicator is closely watched by policymakers and analysts to gauge the overall health and trajectory of the U.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 annual, not seasonally adjusted GDP represents the total value of all goods and services produced within the United States over a 12-month period. It is a comprehensive measure of economic activity and is used to assess long-term economic growth, inform policy decisions, and analyze market trends.
Methodology
The Bureau of Economic Analysis (BEA) calculates GDP based on data from various government agencies and private sector sources.
Historical Context
Policymakers and central banks use GDP data to inform monetary and fiscal policies, while investors and analysts track GDP to understand economic conditions and make informed investment decisions.
Key Facts
- GDP reached a record high of $23.99 trillion in 2021.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- GDP growth has averaged around 2.3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The annual, not seasonally adjusted Gross Domestic Product (GDP) measures the total value of all goods and services produced within the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a key macroeconomic indicator that is closely watched by policymakers, economists, and investors to assess the overall health and trajectory of the U.S. economy.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis (BEA) calculates GDP based on data from various government agencies and private sector sources.
Q: How is this trend used in economic policy?
A: Policymakers and central banks use GDP data to inform monetary and fiscal policies, while investors and analysts track GDP to understand economic conditions and make informed investment decisions.
Q: Are there update delays or limitations?
A: The annual, not seasonally adjusted GDP data is typically released with a lag of several months, reflecting the time required to collect and compile the necessary information.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted Gross Domestic Product (MDACCFDRGSP), retrieved from FRED.