All Employees: Manufacturing in Maine
Annual, Not Seasonally Adjusted
SMU23000003000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.10
Year-over-Year Change
2.56%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted trend measures the total gross state product (GSP) for the state of Florida, adjusting for inflation. This provides valuable insights into the overall economic performance and growth of 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
Gross state product (GSP) is the value of all goods and services produced within a state's economy, similar to the national GDP metric. The Annual, Not Seasonally Adjusted GSP trend for Florida offers a comprehensive view of the state's economic activity and productivity over time.
Methodology
The U.S. Bureau of Economic Analysis (BEA) calculates GSP based on data from various sources, including surveys and administrative records.
Historical Context
Economists and policymakers closely monitor GSP trends to assess a state's economic health, inform policy decisions, and track growth relative to national benchmarks.
Key Facts
- Florida's GSP was $1.15 trillion in 2021.
- Florida's economy grew by 5.7% in 2021.
- The state accounts for around 5% of the total U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted trend measures the total gross state product (GSP) for the state of Florida, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This GSP trend provides valuable insights into the overall economic performance and growth of Florida, which is crucial for economists, policymakers, and businesses analyzing the state's economic health and development.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis (BEA) calculates GSP based on data from various sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor GSP trends to assess a state's economic health, inform policy decisions, and track growth relative to national benchmarks.
Q: Are there update delays or limitations?
A: The Annual, Not Seasonally Adjusted GSP data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU23000003000000001A), retrieved from FRED.