Real Gross Domestic Product: Private Industries in Oregon
ORPIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
232,047.80
Year-over-Year Change
45.06%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Private Industries in Oregon' trend measures the total economic output of private industries in the state of Oregon, adjusted for inflation. This key indicator provides insights into the strength and growth of the state's private 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 tracks the real GDP, or total economic output, generated by private industries located in Oregon. It is a valuable metric for understanding the overall health and performance of the state's economy, excluding government activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounts methodology.
Historical Context
This trend is widely used by policymakers, economists, and market analysts to assess Oregon's economic conditions and prospects.
Key Facts
- Oregon's private industries account for over 80% of the state's total GDP.
- Real private GDP in Oregon has grown by an average of 3.2% annually over the past decade.
- The manufacturing and tech sectors are the largest contributors to Oregon's private GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total real economic output or GDP generated by private industries located in the state of Oregon, excluding government activity.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the overall health and performance of Oregon's private sector economy, which is a key driver of the state's economic growth and prosperity.
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 accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to assess Oregon's economic conditions, identify growth opportunities, and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic developments.
Related Trends
Total Unemployed, Plus All Marginally Attached Workers, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Oregon
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All Employees: Financial Activities: Real Estate and Rental and Leasing in Oregon
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Gross Domestic Product: Accommodation and Food Services (72) in Oregon
ORACCOMDNQGSP
Average Weekly Earnings of All Employees: Leisure and Hospitality in Oregon
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Average Hourly Earnings of All Employees: Goods Producing in Oregon
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Monthly State Retail Sales: General Merchandise Stores in Oregon
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Oregon (ORPIRGSP), retrieved from FRED.