Chain-Type Quantity Index for Real GDP: All Industry Total in Hawaii
Annual, Not Seasonally Adjusted
HIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.25
Year-over-Year Change
14.72%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the total value of goods and services produced annually in the United States, providing a broad indicator of economic activity and growth.
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
Gross domestic product (GDP) is the primary measure of a country's economic output, representing the total monetary value of all final goods and services produced within a given period. This annual, unadjusted GDP series offers a high-level perspective on the long-term economic trends in the U.S. without the volatility of seasonal factors.
Methodology
The Bureau of Economic Analysis (BEA) calculates GDP using data from a variety of government and private sources.
Historical Context
GDP is a critical metric used by policymakers, analysts, and businesses to monitor the health and trajectory of the broader economy.
Key Facts
- GDP reached a record high of $23.9 trillion in 2021.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- Services account for approximately two-thirds of U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the total value of goods and services produced in the United States over a one-year period, providing a high-level indicator of economic activity and growth.
Q: Why is this trend relevant for users or analysts?
A: GDP is a critical metric used by policymakers, economists, and businesses to monitor the health and trajectory of the broader economy. The annual, unadjusted GDP series offers a long-term perspective on economic trends without the volatility of seasonal factors.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis (BEA) calculates GDP using data from a variety of government and private sources.
Q: How is this trend used in economic policy?
A: GDP is a key indicator used by policymakers, central banks, and analysts to assess the overall health of the economy and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The annual GDP data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (HIQGSP), retrieved from FRED.