Real Gross Domestic Product: All Industry Total in South Carolina
Annual, Not Seasonally Adjusted
SCRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
273,324.60
Year-over-Year Change
39.88%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP) of the United States, measured on an annual, not seasonally adjusted basis. This key economic indicator reflects the total value of all goods and services produced within the country over a one-year period.
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 annual, not seasonally adjusted GDP is a comprehensive measure of the overall economic activity and output in the United States. It is widely used by economists, policymakers, and market analysts to assess the health and growth trajectory of the American economy.
Methodology
The GDP data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and statistical models.
Historical Context
The annual GDP trend is a critical input for economic policy decisions and serves as a barometer for market performance and consumer confidence.
Key Facts
- The U.S. GDP reached a record high of $23.99 trillion in 2021.
- Real GDP growth in the U.S. was 5.7% in 2021, the highest since 1984.
- The U.S. economy accounts for approximately 25% of global GDP.
FAQs
Q: What does this economic trend measure?
A: The annual, not seasonally adjusted GDP measures the total value of all goods and services produced within the United States over a one-year period.
Q: Why is this trend relevant for users or analysts?
A: The annual GDP is a crucial indicator of the overall health and growth of the American economy, and is widely used by economists, policymakers, and market participants to assess economic performance and make informed decisions.
Q: How is this data collected or calculated?
A: The GDP data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and statistical models.
Q: How is this trend used in economic policy?
A: The annual GDP trend is a critical input for economic policy decisions, as it serves as a barometer for market performance, consumer confidence, and the overall state of the American economy.
Q: Are there update delays or limitations?
A: The annual GDP data is released with a lag, typically several months after the end of the calendar year. There may also be revisions to the data as more complete information becomes available.
Related Trends
Median Household Income in South Carolina
MEHOINUSSCA646N
All Employees: Professional and Business Services: Administrative and Support and Waste Management and Remediation Services in South Carolina
SMS45000006056000001
Housing Inventory: Active Listing Count Year-Over-Year in South Carolina
ACTLISCOUYYSC
Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in South Carolina
SCEDHLTHSOCASSQGSP
Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for South Carolina
SCPCEFCENPISH
Value of Exports to Sweden from South Carolina
SCSWEA052SCEN
Citation
U.S. Federal Reserve, Gross Domestic Product (SCRGSP), retrieved from FRED.