Chain-Type Quantity Index for Real GDP: All Industry Total in Rhode Island
Annual, Not Seasonally Adjusted
RIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.08
Year-over-Year Change
15.57%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product (GDP) by State' trend measures the real output of goods and services produced by labor and property located in a U.S. state. It is a key indicator of economic growth and productivity at the state level.
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
Real GDP by State tracks the value of all final goods and services produced within a state, adjusted for inflation. This comprehensive measure provides insight into the overall economic performance and relative growth rates of different state economies.
Methodology
The U.S. Bureau of Economic Analysis calculates Real GDP by State using state-level personal income data and other economic indicators.
Historical Context
Policymakers and analysts use this data to evaluate regional economic conditions and performance over time.
Key Facts
- Real GDP by State is adjusted for inflation.
- California has the largest state economy by real GDP.
- Growth rates vary significantly between U.S. states.
FAQs
Q: What does this economic trend measure?
A: The 'Real Gross Domestic Product (GDP) by State' trend measures the real output of goods and services produced within each U.S. state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This comprehensive measure provides insight into the overall economic performance and relative growth rates of different state economies, which is valuable for policymakers and economists.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates Real GDP by State using state-level personal income data and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to evaluate regional economic conditions and performance over time, which informs policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: Real GDP by State data is published annually with a lag, and may not fully capture the latest economic trends in each state.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product (GDP) by State (RIQGSP), retrieved from FRED.