Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Arkansas
ARFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
596.90
Year-over-Year Change
-3.10%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the forestry, fishing, and related activities industry in Arkansas. It provides insights into the performance and contribution of this sector to the state's overall economic growth.
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 Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Arkansas trend represents the inflation-adjusted value-added output of the forestry, fishing, and related activities industry in the state. It is a key indicator for analyzing the health and productivity of this important natural resource-based sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methodologies.
Historical Context
This trend is widely used by policymakers, economists, and industry analysts to assess the economic conditions and competitiveness of Arkansas's forestry, fishing, and related activities sector.
Key Facts
- Arkansas is a leading producer of timber and forestry products.
- The fishing and aquaculture industry is an important component of the state's economy.
- This trend helps track the performance and contribution of natural resource-based industries in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the forestry, fishing, and related activities industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and contribution of Arkansas's natural resource-based industries, which are important for policymakers, economists, and industry stakeholders.
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 income and product accounting methodologies.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and industry analysts to assess the economic conditions and competitiveness of Arkansas's forestry, fishing, and related activities sector, which informs policy decisions and strategic planning.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and potential revisions by the U.S. Bureau of Economic Analysis, which may result in occasional update delays or changes to historical values.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Arkansas (ARFRSTFISHRGSP), retrieved from FRED.