Real Gross Domestic Product: Management of Companies and Enterprises (55) in the Great Lakes BEA Region
GLAKMNGCOENTPRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79,250.80
Year-over-Year Change
49.97%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the management of companies and enterprises sector in the Great Lakes region of the United States. It provides insights into the productivity and economic output of this important industry within the region.
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: Management of Companies and Enterprises (55) in the Great Lakes BEA Region series tracks the inflation-adjusted economic output of the management of companies and enterprises sector in the Great Lakes Bureau of Economic Analysis (BEA) region. This metric is used by economists and policymakers to analyze regional economic trends and industry performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is relevant for understanding the state of the management and enterprise sector within the Great Lakes regional economy and its contribution to overall economic activity.
Key Facts
- The Great Lakes region encompasses Illinois, Indiana, Michigan, Ohio, and Wisconsin.
- The management of companies and enterprises sector includes corporate, subsidiary, and regional managing offices.
- This sector accounts for approximately 5% of total GDP in the Great Lakes region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the management of companies and enterprises sector in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and economic output of the management and enterprise sector within the Great Lakes regional economy, which is important for understanding overall economic performance and trends.
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 principles.
Q: How is this trend used in economic policy?
A: This economic indicator is relevant for policymakers and analysts to understand the state of the management and enterprise sector within the Great Lakes regional economy and its contribution to overall economic activity.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Management of Companies and Enterprises (55) in the Great Lakes BEA Region (GLAKMNGCOENTPRRGSP), retrieved from FRED.