Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in the Great Lakes BEA Region
GLAKAGRRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,481.00
Year-over-Year Change
-22.75%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the agriculture, forestry, fishing, and hunting industry in the Great Lakes region of the United States. It is an important indicator of economic activity and productivity in a key sector of the regional 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: Agriculture, Forestry, Fishing and Hunting (11) in the Great Lakes BEA Region tracks the inflation-adjusted value added by this industry to the overall GDP of the eight-state Great Lakes region. It is used by economists and policymakers to analyze regional economic trends and guide decisions on investment, trade, and resource management.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
This economic trend informs decisions around agricultural, environmental, and economic development policies in the Great Lakes region.
Key Facts
- The Great Lakes region accounts for over 20% of U.S. agricultural production.
- The agriculture, forestry, fishing and hunting industry represents 2% of the region's GDP.
- This trend has shown steady growth since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the agriculture, forestry, fishing, and hunting industry in the eight-state Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and economic contribution of a key industry in the Great Lakes region, informing decision-making around agricultural, environmental, and economic development policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend informs decisions around agricultural, environmental, and economic development policies in the Great Lakes region by providing a measure of productivity and economic activity in the agriculture, forestry, fishing, and hunting industry.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay by the BEA. There may be revisions to previous periods as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in the Great Lakes BEA Region (GLAKAGRRQGSP), retrieved from FRED.