Gross Domestic Product: Wholesale Trade (42) in the Great Lakes BEA Region
GLAKWHOLENQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
263,547.50
Year-over-Year Change
13.91%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) Wholesale Trade (42) in the Great Lakes BEA Region measures the economic output of the wholesale trade sector in this geographic area. It provides insights into the region's overall economic performance and the strength of its wholesale trade industry.
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 GDP Wholesale Trade (42) in the Great Lakes BEA Region represents the total value of goods and services produced by the wholesale trade sector within the eight-state Great Lakes region, as defined by the Bureau of Economic Analysis (BEA). This metric is used by economists and policymakers to analyze regional economic trends and the relative contribution of the wholesale trade industry.
Methodology
The data is collected and calculated by the BEA using established national income and product accounting methods.
Historical Context
This trend is closely monitored by economists, businesses, and policymakers to gauge the health of the regional economy and inform decision-making.
Key Facts
- The Great Lakes region accounts for over 20% of the U.S. GDP.
- Wholesale trade is a significant contributor to the region's economy.
- GDP growth in the wholesale trade sector can signal broader economic trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the wholesale trade sector within the eight-state Great Lakes region, as defined by the Bureau of Economic Analysis (BEA).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the wholesale trade industry to the overall economy of the Great Lakes region, which is a major economic center in the United States.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the BEA using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Economists, businesses, and policymakers closely monitor this trend to gauge the health of the regional economy and inform decision-making.
Q: Are there update delays or limitations?
A: The data is published quarterly by the BEA, with typical update delays of 2-3 months.
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Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in the Great Lakes BEA Region
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Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Great Lakes BEA Region
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Per Capita Personal Consumption Expenditures: Services for Great Lakes BEA Region
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Citation
U.S. Federal Reserve, Gross Domestic Product: Wholesale Trade (42) in the Great Lakes BEA Region (GLAKWHOLENQGSP), retrieved from FRED.