Real Gross Domestic Product: Retail Trade (44-45) in Maryland
MDRETAILRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,274.10
Year-over-Year Change
26.04%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures real gross domestic product (GDP) for the retail trade sector in the state of Maryland. It provides important insights into the performance and health of Maryland's consumer-facing 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: Retail Trade (44-45) in Maryland series tracks the inflation-adjusted output of Maryland's retail trade industry, which includes businesses that sell merchandise and provide services directly to consumers. This metric offers a granular view of economic conditions and consumer spending patterns within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts monitor this trend to assess the broader economic climate and consumer confidence in Maryland.
Key Facts
- Maryland's retail GDP accounts for over 5% of the state's total economic output.
- The retail trade sector employs more than 400,000 workers in Maryland.
- Retail GDP growth in Maryland has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the retail trade industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: The Maryland retail trade GDP provides important insights into consumer spending patterns and the overall health of the state's consumer-facing economy, which is crucial for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the broader economic climate and consumer confidence in Maryland, which informs policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: There can be a several month delay in the release of this data, and it may be subject to periodic revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Retail Trade (44-45) in Maryland (MDRETAILRQGSP), retrieved from FRED.