Real Gross Domestic Product: Construction (23) in the Great Lakes BEA Region
GLAKCONSTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104,649.40
Year-over-Year Change
0.12%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real, inflation-adjusted gross domestic product (GDP) for the construction industry in the Great Lakes region of the United States. It provides insight into the economic activity and growth within a critical 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
The Real Gross Domestic Product: Construction (23) in the Great Lakes BEA Region tracks the total inflation-adjusted output generated by the construction industry across the states comprising the Great Lakes region. This metric helps analysts and policymakers understand regional economic performance and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts and regional income data.
Historical Context
This trend is used to inform economic policies, investment decisions, and industry analysis related to the construction sector and regional growth.
Key Facts
- The Great Lakes region includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
- Construction accounts for around 4% of total GDP in the Great Lakes states.
- This metric is seasonally adjusted and reported quarterly.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) for the construction industry in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic activity and growth within the critical construction sector, helping to inform policies, investments, and industry analysis for the Great Lakes region.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts and regional income data.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic policies, investment decisions, and industry analysis related to the construction sector and regional growth in the Great Lakes states.
Q: Are there update delays or limitations?
A: This metric is seasonally adjusted and reported quarterly, with a lag of several months between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Construction (23) in the Great Lakes BEA Region (GLAKCONSTRQGSP), retrieved from FRED.