Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Rhode Island
Annual, Not Seasonally Adjusted
RIAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.88
Year-over-Year Change
2.63%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Annual, Not Seasonally Adjusted' economic trend measures the gross state product, which represents the total economic output of a U.S. state. This metric is crucial for understanding regional economic performance and growth.
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 gross state product (GSP) is the state-level equivalent of the national gross domestic product (GDP). It captures the total value of all goods and services produced within a state's economy over a given period, typically one year. GSP data is used by policymakers, analysts, and businesses to assess regional economic conditions and trends.
Methodology
The U.S. Bureau of Economic Analysis (BEA) calculates GSP based on data from various government and private sources.
Historical Context
GSP data helps inform policy decisions, business strategies, and investment decisions at the state and local level.
Key Facts
- GSP accounts for over 90% of the U.S. GDP.
- California has the largest GSP, contributing nearly 15% of the national GDP.
- GSP growth rates can vary significantly across U.S. states.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the total economic output, or gross state product (GSP), of a U.S. state over a one-year period.
Q: Why is this trend relevant for users or analysts?
A: GSP data is crucial for understanding regional economic performance and growth, and it informs policy decisions, business strategies, and investment decisions at the state and local level.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis (BEA) calculates GSP based on data from various government and private sources.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use GSP data to assess regional economic conditions and trends, which helps inform policy decisions, business strategies, and investment decisions at the state and local level.
Q: Are there update delays or limitations?
A: The BEA publishes GSP data annually, with a delay of several months following the end of the calendar year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (RIAGRQGSP), retrieved from FRED.