All Employees: Financial Activities: Insurance Carriers and Related Activities in Maryland
Annual
SMU24000005552400001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.00
Year-over-Year Change
14.43%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the annual total output of goods and services produced within the United States, providing a comprehensive overview of the country's economic performance.
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 Annual trend, also known as Gross Domestic Product (GDP), is the broadest measure of a nation's economic activity. It represents the total value of all final goods and services produced within a country's borders over a specific time period, typically one year.
Methodology
The U.S. Bureau of Economic Analysis (BEA) calculates GDP using data from a variety of sources, including business and household surveys, administrative records, and other government statistics.
Historical Context
GDP is a key metric used by policymakers, economists, and financial analysts to assess the overall health and growth of the U.S. economy.
Key Facts
- The U.S. GDP reached a record high of $23.9 trillion in 2021.
- Real GDP growth in the U.S. was 5.7% in 2021, the highest since 1984.
- The U.S. GDP accounts for over 20% of the global economy.
FAQs
Q: What does this economic trend measure?
A: The Annual trend, also known as Gross Domestic Product (GDP), measures the total value of all final goods and services produced within the United States over a one-year period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's economic performance and is widely used by policymakers, economists, and financial analysts to assess the overall health and growth of the U.S. economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis (BEA) calculates GDP using data from a variety of sources, including business and household surveys, administrative records, and other government statistics.
Q: How is this trend used in economic policy?
A: GDP is a key metric used by policymakers to formulate and evaluate economic policies, as it provides a comprehensive view of the country's economic activity and growth.
Q: Are there update delays or limitations?
A: The BEA releases quarterly and annual GDP estimates, with the annual figures typically published in late January or early February following the end of the previous year.
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Citation
U.S. Federal Reserve, Annual (SMU24000005552400001A), retrieved from FRED.