Real Gross Domestic Product: Construction (23) in Nebraska
NECONSTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,898.80
Year-over-Year Change
3.53%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Construction (23) in Nebraska measures the total value of construction activity in the state, adjusted for inflation. This metric is a key indicator of economic growth and investment in the construction sector.
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 represents the real (inflation-adjusted) output of the construction industry in Nebraska. It is a component of the state's overall gross domestic product and provides insight into the health and activity of the construction sector, which is an important driver of economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of source data on construction activity.
Historical Context
Policymakers and analysts use this metric to assess the strength of Nebraska's construction industry and its contribution to the state's overall economic performance.
Key Facts
- Nebraska's real construction GDP grew by 3.2% in 2021.
- The construction sector accounts for 4.5% of Nebraska's total economic output.
- Real construction GDP in Nebraska has increased by 8.1% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Construction (23) in Nebraska measures the total value of construction activity in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and performance of Nebraska's construction industry, which is a key driver of economic growth and investment in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of source data on construction activity.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of Nebraska's construction industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is typically released with a 3-month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Construction (23) in Nebraska (NECONSTRQGSP), retrieved from FRED.