Real Gross Domestic Product: Utilities (22) in the Great Lakes BEA Region
GLAKUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,099.20
Year-over-Year Change
7.36%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Utilities (22) in the Great Lakes BEA Region measures the economic output of the utilities industry in this geographical area, adjusted for inflation.
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
This series represents the real (inflation-adjusted) value added by the utilities industry, which includes electric power, natural gas, water, and sewage services, in the Great Lakes Bureau of Economic Analysis (BEA) region. It is a key indicator of the region's economic performance and utility sector activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is used by economists, policymakers, and analysts to assess the health and growth of the utilities industry and its contribution to the overall economy in the Great Lakes region.
Key Facts
- The utilities industry accounts for around 2% of the Great Lakes region's GDP.
- Utilities output has grown by an average of 1.5% annually over the past decade.
- Natural gas and electric power generation make up the largest segments of the utilities industry in this region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the utilities industry in the Great Lakes Bureau of Economic Analysis (BEA) region.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the performance and contribution of the utilities sector to the overall economy in 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 income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and analysts to assess the health and growth of the utilities industry and its impact on the regional economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Utilities (22) in the Great Lakes BEA Region (GLAKUTILRGSP), retrieved from FRED.