Gross Domestic Product: Private Industries in Iowa
IAPINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
230,157.80
Year-over-Year Change
63.79%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP): Private Industries in Iowa trend measures the economic output of private industries in the state of Iowa. This data is crucial for understanding the health and growth of Iowa's private sector.
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: Private Industries in Iowa statistic tracks the total value added by private enterprises in the state, excluding the public sector. It is a key indicator of Iowa's economic performance and can be used to assess industry-level trends and the state's competitive position.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information.
Historical Context
Policymakers and businesses use this trend to inform economic and investment decisions in Iowa.
Key Facts
- Iowa's GDP: Private Industries reached $192 billion in 2021.
- The trend grew by 5.2% in 2021 compared to the previous year.
- Manufacturing is the largest private industry in Iowa, accounting for 19% of private GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP): Private Industries in Iowa trend measures the total economic output of private businesses and enterprises in the state of Iowa, excluding the public sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the health and growth of Iowa's private sector economy, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information for the state of Iowa.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this trend to inform economic and investment decisions in Iowa, as it provides insights into the state's private sector performance and competitive position.
Q: Are there update delays or limitations?
A: The GDP: Private Industries in Iowa data is released annually with a lag of several months, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Iowa (IAPINGSP), retrieved from FRED.