Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Pennsylvania
Annual, Not Seasonally Adjusted
PAAGRNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,508.90
Year-over-Year Change
46.83%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the total annual agricultural gross output in the United States. This key economic indicator provides insights into the performance and productivity of the agricultural sector.
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 annual agricultural gross output series tracks the total dollar value of all agricultural goods and services produced in the U.S. over a 12-month period. It is a broad measure of the size and economic contribution of the agricultural industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys and economic modeling.
Historical Context
Policymakers and analysts use this metric to assess the health and trends within the agricultural economy.
Key Facts
- Agriculture accounts for over $1 trillion in annual economic output in the U.S.
- The agricultural sector employs over 2.6 million people in the United States.
- U.S. agricultural exports were valued at over $177 billion in 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the total dollar value of all agricultural goods and services produced in the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the size, productivity, and performance of the U.S. agricultural sector, which is a key driver of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and trends within the agricultural economy, which informs decisions around farm subsidies, trade policies, and other agricultural regulations.
Q: Are there update delays or limitations?
A: The annual agricultural gross output data is typically published with a 1-2 year lag, as it relies on comprehensive economic surveys and modeling.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (PAAGRNGSP), retrieved from FRED.