Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in the Great Lakes BEA Region
Annual, Not Seasonally Adjusted
GLAKARTENTRECQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
110.18
Year-over-Year Change
20.08%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the annual, not seasonally adjusted gross state product (GSP) for Alaska. GSP is a comprehensive measure of a state's economic output and is closely watched by economists and policymakers.
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 gross state product (GSP) is the value of all goods and services produced within a state's economy, similar to the national GDP. This annual, not seasonally adjusted GSP data for Alaska provides insights into the state's overall economic performance and growth trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Historical Context
GSP data is used by government, businesses, and analysts to assess a state's economic health and make informed policy decisions.
Key Facts
- Alaska's annual, not seasonally adjusted GSP was $53.8 billion in 2021.
- GSP growth in Alaska has averaged 1.2% over the past 5 years.
- The largest industry contributors to Alaska's GSP are oil and gas, healthcare, and federal government.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the annual, not seasonally adjusted gross state product (GSP) for the state of Alaska. GSP is a comprehensive measure of a state's economic output.
Q: Why is this trend relevant for users or analysts?
A: GSP data is closely watched by economists, policymakers, and businesses to assess a state's overall economic performance and growth trends.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Q: How is this trend used in economic policy?
A: GSP data is used by government, businesses, and analysts to make informed policy decisions and assess a state's economic health.
Q: Are there update delays or limitations?
A: The GSP data is reported annually with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (GLAKARTENTRECQGSP), retrieved from FRED.