Real Gross Domestic Product: Professional, Scientific, and Technical Services (54) in the Great Lakes BEA Region
Annual, Not Seasonally Adjusted
GLAKPROSCITCHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
234,514.90
Year-over-Year Change
57.15%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted trend measures the total gross domestic product (GDP) for Alaska. This key economic indicator provides insight into the overall health and growth of the Alaskan 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 Annual, Not Seasonally Adjusted GDP for Alaska represents the total value of all goods and services produced within the state over the course of a year. It is a comprehensive measure of economic activity used by policymakers and analysts to evaluate the performance of the Alaskan economy.
Methodology
The data is collected through surveys and analyses by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in Alaskan GDP are closely monitored by federal and state governments for policy decisions and economic forecasting.
Key Facts
- Alaska's GDP was $59.6 billion in 2021.
- The Alaskan economy is heavily dependent on the oil and gas industry.
- GDP growth in Alaska has been volatile in recent years due to fluctuations in energy prices.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted trend measures the total gross domestic product (GDP) for the state of Alaska over the course of a year.
Q: Why is this trend relevant for users or analysts?
A: Alaskan GDP is a key indicator of the state's overall economic performance and growth, providing important insights for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys and analyses conducted by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Trends in Alaskan GDP are closely monitored by federal and state governments to inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not fully capture the impact of recent economic events.
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Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in the Great Lakes BEA Region
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Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in the Great Lakes BEA Region
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Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in the Great Lakes BEA Region
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (GLAKPROSCITCHRGSP), retrieved from FRED.