Real Gross Domestic Product: Private Industries in Florida
FLPIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,233,025.60
Year-over-Year Change
12.14%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic indicator measures the real, inflation-adjusted gross domestic product (GDP) produced by private industries in the state of Florida. It provides insights into the overall health and growth of Florida's private sector economy.
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: Private Industries in Florida series tracks the total economic output of private companies and enterprises in the state, excluding the public sector. It is a key measure used by economists and policymakers to evaluate Florida's economic performance and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
This economic indicator is widely referenced by investors, businesses, and government agencies to inform decisions related to economic, fiscal, and monetary policy in Florida.
Key Facts
- Florida's private sector accounts for over 80% of the state's total economic output.
- The real GDP of Florida's private industries has grown by an average of 3.2% annually over the past decade.
- The construction, healthcare, and tourism industries are major drivers of private GDP growth in Florida.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total real, inflation-adjusted gross domestic product (GDP) produced by private companies and enterprises within the state of Florida, excluding the public sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall health and performance of Florida's private sector economy, which is a critical driver of the state's broader economic growth and competitiveness.
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 accounting standards and methodologies.
Q: How is this trend used in economic policy?
A: This indicator is widely referenced by investors, businesses, and government agencies to inform decisions related to economic, fiscal, and monetary policy in Florida.
Q: Are there update delays or limitations?
A: The data is typically published by the Bureau of Economic Analysis on a quarterly basis, with some potential for minor delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Florida (FLPIRQGSP), retrieved from FRED.