Gross Domestic Product: Utilities (22) in Rhode Island
RIUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,564.70
Year-over-Year Change
108.77%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the utilities sector in the state of Rhode Island. It provides important insights into the economic performance and energy-related activity within the state.
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 Domestic Product: Utilities (22) in Rhode Island metric tracks the total economic output of the utilities industry, which includes electricity, natural gas, water, and sewage services. This data series is a key indicator of the state's energy infrastructure and energy-dependent economic sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Policymakers and analysts use this metric to assess the health and trends within Rhode Island's utilities sector and its broader economic implications.
Key Facts
- Rhode Island's utilities GDP was $1.1 billion in 2021.
- The utilities sector accounts for 1.8% of Rhode Island's total GDP.
- Utilities GDP in Rhode Island has grown by 3.2% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the utilities sector in the state of Rhode Island, including electricity, natural gas, water, and sewage services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the energy infrastructure and energy-dependent economic activity within Rhode Island, which is relevant for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and trends within Rhode Island's utilities sector and its broader economic implications, informing decisions on energy infrastructure, regulations, and economic development.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Utilities (22) in Rhode Island (RIUTILNGSP), retrieved from FRED.