Gross Domestic Product: Trade (42, 44-45) in Wisconsin
WITRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,583.50
Year-over-Year Change
85.20%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Trade (42, 44-45) in Wisconsin' metric tracks the economic activity of the trade sector, including wholesale and retail trade, in the state of Wisconsin. This indicator provides insights into the health and performance of Wisconsin's commercial environment.
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 gross domestic product (GDP) contribution of the trade industry, including wholesale and retail trade, for the state of Wisconsin. It is a key indicator of economic activity and can be used to analyze trends in consumer demand, business investment, and overall economic performance within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and economic census information.
Historical Context
Policymakers and analysts utilize this metric to gauge the strength of Wisconsin's commercial sector and its impact on the state's broader economic landscape.
Key Facts
- Wisconsin's trade sector accounts for approximately 20% of its total GDP.
- The trade industry employs over 600,000 people in Wisconsin.
- The GDP of Wisconsin's trade sector has grown by 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) contribution of the trade industry, including wholesale and retail trade, in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health and performance of Wisconsin's commercial environment, which is a critical component of the state's overall economic landscape.
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 sources, including business surveys and economic census information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts utilize this metric to gauge the strength of Wisconsin's commercial sector and its impact on the state's broader economic performance.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in Wisconsin (WITRADENGSP), retrieved from FRED.