Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Connecticut
Annual, Not Seasonally Adjusted
CTAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.43
Year-over-Year Change
23.17%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the gross state product (GSP) for the U.S. agricultural industry. This economic indicator provides insight into the overall performance and productivity of the agriculture 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
Gross state product (GSP) is a measure of the total economic output of a U.S. state or industry. The 'Annual, Not Seasonally Adjusted' series specifically tracks the agricultural industry's contribution to each state's GSP on a yearly basis, without adjusting for seasonal variations.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and estimates of industry-level economic activity.
Historical Context
Policymakers and analysts use this agricultural GSP data to assess the health and competitiveness of the U.S. farming and food production sectors.
Key Facts
- The agricultural industry accounts for over $1 trillion in annual economic output.
- California has the largest agricultural GSP, contributing over $50 billion annually.
- The agricultural sector employs more than 2.6 million workers in the U.S.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the gross state product (GSP) for the U.S. agricultural industry, providing a measure of total economic output and productivity in this sector.
Q: Why is this trend relevant for users or analysts?
A: This agricultural GSP data is important for policymakers, economists, and industry analysts to assess the performance and competitiveness of the U.S. farming and food production sectors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and estimates of industry-level economic activity.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this agricultural GSP data to monitor the health and productivity of the U.S. farming industry, which informs policy decisions related to trade, subsidies, and industry regulations.
Q: Are there update delays or limitations?
A: The agricultural GSP data is published annually with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (CTAGRQGSP), retrieved from FRED.