Gross Domestic Product: Private Industries in Arkansas
ARPINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
167,695.90
Year-over-Year Change
78.58%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Private Industries in Arkansas measures the total economic output of the private sector in the state. It serves as a key indicator of Arkansas' economic health and 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
This data series tracks the value-added GDP contributions of private industries in Arkansas, excluding government activity. It provides insight into the production and growth dynamics of the state's private economy, which is vital for policymakers and analysts assessing regional economic trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Monitoring this metric helps inform decisions around economic development, tax policy, and private investment in Arkansas.
Key Facts
- Arkansas' private GDP was $129 billion in 2021.
- Private industries account for over 80% of Arkansas' total economic output.
- The state's private GDP has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Private Industries in Arkansas measures the total economic output and value-added production of the state's private sector, excluding government activity.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into the performance and growth dynamics of Arkansas' private economy, which is vital for policymakers, investors, and economists assessing the state's economic health and potential.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Monitoring this metric helps inform decisions around economic development, tax policy, and private investment in Arkansas.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Arkansas (ARPINGSP), retrieved from FRED.