Gross Domestic Product: Retail Trade (44-45) in Hawaii
HIRETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,707.70
Year-over-Year Change
17.97%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Retail Trade (44-45) in Hawaii measures the total economic output of the retail trade sector in the state of Hawaii. This metric is important for economists and policymakers to understand consumer spending patterns and overall economic conditions in 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 Gross Domestic Product: Retail Trade (44-45) in Hawaii represents the total value added by the retail trade industry to the state's overall economic output. It is a key indicator of consumer demand and can provide insights into the health of the local economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic data sources.
Historical Context
Policymakers and market analysts use this metric to assess the strength of the Hawaiian economy and make informed decisions.
Key Facts
- Hawaii's retail trade sector accounts for over 15% of its GDP.
- Retail trade GDP in Hawaii has grown by an average of 3% annually over the past decade.
- Consumer spending is a major driver of Hawaii's economy.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Retail Trade (44-45) in Hawaii measures the total economic output of the retail trade sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the overall health of Hawaii's economy, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic data sources.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to assess the strength of the Hawaiian economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Hawaii (HIRETAILNQGSP), retrieved from FRED.