Gross Domestic Product: Retail Trade (44-45) in North Carolina
NCRETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,710.40
Year-over-Year Change
21.78%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) for the Retail Trade (44-45) sector in North Carolina measures the total economic output of this industry in the state. It is a key indicator of consumer spending and business activity.
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 GDP metric tracks the total value added by the retail trade industry, which includes stores that sell merchandise and provide services directly to consumers. It is used by economists and policymakers to analyze regional economic trends and guide decision-making.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
Tracking retail GDP helps inform monetary and fiscal policies that impact consumer behavior and business investment.
Key Facts
- North Carolina's retail GDP was $91.5 billion in 2020.
- Retail trade accounts for 15% of North Carolina's total economic output.
- The retail GDP trend provides insights into consumer demand and business confidence.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or value added by the retail trade industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Tracking retail GDP is important for understanding consumer spending patterns, business investment, and regional economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling techniques.
Q: How is this trend used in economic policy?
A: Retail GDP figures help inform monetary and fiscal policies that aim to stimulate consumer demand and promote business investment.
Q: Are there update delays or limitations?
A: There may be lags of several months in the data availability due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in North Carolina (NCRETAILNQGSP), retrieved from FRED.