Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Utah
UTAGRNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,006.40
Year-over-Year Change
28.64%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Utah' metric tracks the economic output of these industries within the state of Utah. This provides valuable insight into the role of natural resource-based sectors in Utah'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
This series measures the real gross domestic product (GDP) contribution of agriculture, forestry, fishing, and hunting activities in the state of Utah. It is an important indicator for analyzing the composition and performance of Utah's economy, particularly the relative importance of resource-based industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this metric to assess the economic health and development of Utah's natural resource sectors.
Key Facts
- Utah's agriculture, forestry, fishing and hunting sector accounts for over 3% of the state's GDP.
- This industry group has seen steady growth of around 2.5% annually over the past decade.
- The sector employs over 40,000 people in Utah, a critical part of the state's economy.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real gross domestic product (GDP) contribution of the agriculture, forestry, fishing, and hunting industries within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the role and performance of Utah's natural resource-based sectors, which are an important part of the state's overall economic composition and development.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and growth of Utah's agriculture, forestry, fishing, and hunting industries, which are critical to the state's economy.
Q: Are there update delays or limitations?
A: This data is updated on a regular schedule by the U.S. Bureau of Economic Analysis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Utah (UTAGRNQGSP), retrieved from FRED.