Real Gross Domestic Product: All Industry Total in Wisconsin
WIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
356,755.60
Year-over-Year Change
5.25%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: All Industry Total in Wisconsin measures the total economic output of Wisconsin, adjusted for inflation. This key indicator provides insights into the overall health and growth of 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
This series represents the total real economic output, or value added, across all industries in Wisconsin. It is a comprehensive measure of the state's economic activity and is widely used by policymakers, analysts, and businesses to understand Wisconsin's economic performance and trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is essential for evaluating Wisconsin's economic conditions and informing policy decisions at the state level.
Key Facts
- Wisconsin's real GDP grew by 2.5% in 2021.
- The manufacturing sector accounts for over 19% of Wisconsin's total economic output.
- Per capita real GDP in Wisconsin was $56,000 in 2021.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: All Industry Total in Wisconsin measures the total economic output of the state, adjusted for inflation. It provides a comprehensive view of Wisconsin's economic activity across all industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the overall health and growth of Wisconsin's economy. It informs policymakers, businesses, and analysts about the state's economic performance and can help guide decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This metric is essential for evaluating Wisconsin's economic conditions and informing policy decisions at the state level, such as fiscal and monetary policies, economic development initiatives, and investment strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: All Industry Total in Wisconsin (WIRQGSP), retrieved from FRED.