Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Wisconsin
WIFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
717.50
Year-over-Year Change
58.25%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in Wisconsin. It is an important indicator for understanding the state's natural resource-based industries and economic diversification.
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 real GDP of the forestry, fishing, and related activities sector in Wisconsin represents the inflation-adjusted value of goods and services produced by this industry within the state. This metric provides insight into the productivity and competitiveness of Wisconsin's natural resource-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Policymakers and industry analysts use this trend to assess the health and growth potential of Wisconsin's natural resource industries.
Key Facts
- Wisconsin is a major producer of paper and wood products.
- Fishing and aquaculture are important industries in the state.
- This sector accounts for over 2% of Wisconsin's total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the productivity and competitiveness of Wisconsin's natural resource-based industries, which are important contributors to the state'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 as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the health and growth potential of Wisconsin's natural resource industries, which informs economic development strategies.
Q: Are there update delays or limitations?
A: This data is subject to the release schedule and potential revisions of the U.S. Bureau of Economic Analysis's regional GDP estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Wisconsin (WIFRSTFISHRGSP), retrieved from FRED.