Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Nebraska
NEFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
434.80
Year-over-Year Change
38.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities industry in Nebraska. It provides insights into the performance and growth of this crucial natural resource 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
The Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Nebraska series tracks the inflation-adjusted output of this industry within the state's economy. It is an important indicator for understanding Nebraska's natural resource-based economic activities and their contribution to overall state GDP.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic development organizations to assess the health and competitiveness of Nebraska's natural resource industries.
Key Facts
- Nebraska's forestry and fishing industries contribute over $1 billion annually to the state's GDP.
- This sector has experienced 3% average annual growth over the past decade.
- Fishing and aquaculture account for the largest share of this industry's economic output in Nebraska.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the forestry, fishing, and related activities industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of Nebraska's natural resource-based industries, which are important contributors to the state's overall economic output and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, industry analysts, and economic development organizations to assess the health and competitiveness of Nebraska's natural resource industries.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Nebraska (NEFRSTFISHRGSP), retrieved from FRED.