Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Wisconsin
WIAGRNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,573.00
Year-over-Year Change
52.63%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contribution of the agriculture, forestry, fishing, and hunting sector in the state of Wisconsin. It provides insight into the relative size and performance of this key industry within the state's 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
The Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Wisconsin series tracks the total economic output of this sector, which includes activities such as crop and animal production, logging, fishing, and related support services. This metric is used by economists and policymakers to analyze the health and trends within Wisconsin's rural and natural resource-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and industry sources.
Historical Context
This economic indicator helps inform policy decisions and private sector investments related to Wisconsin's agricultural, forestry, and natural resource industries.
Key Facts
- Wisconsin is a major agricultural producer, ranking among the top states for dairy, cranberries, and other crops.
- The agriculture, forestry, fishing, and hunting sector accounts for over 5% of Wisconsin's total GDP.
- This industry provides hundreds of thousands of jobs across the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) contribution of the agriculture, forestry, fishing, and hunting sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and relative size of Wisconsin's rural, natural resource-based economy, which is a key driver of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and industry sources.
Q: How is this trend used in economic policy?
A: This indicator helps inform policy decisions and private sector investments related to Wisconsin's agricultural, forestry, and natural resource industries.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be a delay in reflecting the most current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Wisconsin (WIAGRNGSP), retrieved from FRED.