Real Gross Domestic Product: Retail Trade (44-45) in Rhode Island
RIRETAILRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,237.10
Year-over-Year Change
25.61%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) for the retail trade sector in the state of Rhode Island. It provides important insights into the performance and growth of this key industry within the state's overall 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: Retail Trade (44-45) in Rhode Island series tracks the inflation-adjusted output and activity of the retail trade industry in the state. This data helps economists and policymakers assess the health and trajectory of Rhode Island's consumer-driven economic sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in Rhode Island's retail GDP are closely monitored by state officials, business leaders, and market analysts to gauge consumer demand and guide economic policies.
Key Facts
- Rhode Island's retail GDP accounts for over 10% of the state's total economic output.
- The retail sector employs more than 80,000 Rhode Islanders, or around 16% of the state's workforce.
- Retail trade GDP growth in Rhode Island has outpaced the national average in 3 of the last 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product (GDP) for the retail trade industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: Retail GDP is a key indicator of consumer demand and spending power within the Rhode Island economy, making it crucial for assessing the state's overall economic health and growth.
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: Trends in Rhode Island's retail GDP are closely monitored by state officials, business leaders, and market analysts to gauge consumer demand and guide economic policies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Retail Trade (44-45) in Rhode Island (RIRETAILRQGSP), retrieved from FRED.