Real Gross Domestic Product: Wholesale Trade (42) in Pennsylvania
PAWHOLERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,990.90
Year-over-Year Change
-6.43%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the wholesale trade industry in Pennsylvania. It provides insights into the performance and growth of this critical sector within the state's 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: Wholesale Trade (42) in Pennsylvania series represents the inflation-adjusted output of the wholesale trade industry in the state. It is a key indicator of the sector's economic health and its contribution to the overall Pennsylvania economy.
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, economists, and industry analysts to assess the strength of Pennsylvania's wholesale trade sector and its implications for the broader state economy.
Key Facts
- Pennsylvania's wholesale trade sector accounts for over 6% of the state's GDP.
- Real wholesale trade GDP in Pennsylvania has grown by an average of 2.5% annually over the past decade.
- The wholesale trade industry employs more than 270,000 workers in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the wholesale trade industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: The wholesale trade sector is a critical component of Pennsylvania's economy, and this trend provides valuable insights into its performance and growth over time.
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: Policymakers, economists, and industry analysts closely monitor this trend to assess the strength of Pennsylvania's wholesale trade sector and its implications for the broader state economy.
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 complete information becomes available.
Related Trends
Gross Domestic Product: Food Services and Drinking Places (722) in Pennsylvania
PAFOODDPNGSP
Electric Power Carbon Dioxide Emissions, Petroleum Coke for Pennsylvania
EMISSCO2VPCEIBPAA
Industrial Carbon Dioxide Emissions, Natural Gas for Pennsylvania
EMISSCO2TOTVICNGPAA
Personal Consumption Expenditures: Services: Health Care for Pennsylvania
PAPCEHLTHCARE
Value of Exports to United Kingdom from Pennsylvania
PAGBRA052SCEN
Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Pennsylvania
SMU42000004000000003
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wholesale Trade (42) in Pennsylvania (PAWHOLERGSP), retrieved from FRED.