Gross Domestic Product: Retail Trade (44-45) in South Carolina
SCRETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,126.80
Year-over-Year Change
22.29%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Retail Trade (44-45) in South Carolina measures the economic output of the retail trade sector in the state. It is a key indicator of consumer spending and economic activity.
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
This economic trend represents the total value of goods and services produced by the retail trade industry in South Carolina. Economists and policymakers use it to gauge the health of the state's economy and consumer demand.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in retail trade GDP are closely watched for insights into consumer spending patterns and their impact on the broader state economy.
Key Facts
- Retail trade accounts for over 15% of South Carolina's GDP.
- Retail GDP in South Carolina grew by 4.2% in 2021.
- The state's retail sector employs over 400,000 workers.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Retail Trade (44-45) in South Carolina measures the total economic output of the retail trade sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer spending patterns and the overall health of South Carolina's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Trends in retail trade GDP are closely monitored by economists and policymakers to assess consumer demand and its impact on the broader state economy.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month lag and may be subject to revisions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in South Carolina (SCRETAILNQGSP), retrieved from FRED.