Gross Domestic Product: Utilities (22) in North Carolina
NCUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,297.40
Year-over-Year Change
45.54%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Utilities (22) in North Carolina measures the economic output of the utilities sector in the state. This data is crucial for understanding the state's broader economic performance and energy infrastructure.
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
This series tracks the total inflation-adjusted value added by the utilities industry, which includes electric power, natural gas, water, and sewage services, to North Carolina's overall GDP. Economists use this data to analyze the state's energy supply, consumption patterns, and infrastructure investment needs.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private sector sources.
Historical Context
Policymakers and businesses closely monitor this trend to inform decisions around energy policy, utility regulation, and investment.
Key Facts
- North Carolina's utilities sector accounts for over 2% of the state's total GDP.
- Utilities GDP in North Carolina has grown by an average of 3.2% annually over the past decade.
- The state's utilities industry employs over 25,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output of North Carolina's utilities sector, including electric power, natural gas, water, and sewage services.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the state's broader economic performance, energy infrastructure, and utility industry.
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 government and private sector sources.
Q: How is this trend used in economic policy?
A: Policymakers and businesses closely monitor this trend to inform decisions around energy policy, utility regulation, and investment.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Utilities (22) in North Carolina (NCUTILNGSP), retrieved from FRED.