Gross Domestic Product: Private Goods-Producing Industries in Iowa
IAPRIGOODPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65,590.40
Year-over-Year Change
41.64%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of private goods-producing industries in Iowa. It provides important insights into the state's economic performance and productivity.
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: Private Goods-Producing Industries in Iowa series tracks the total economic output of private industries engaged in the production of physical goods within the state. This metric is a key indicator of industrial activity and economic growth in Iowa.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to analyze Iowa's economic conditions and inform decision-making.
Key Facts
- Iowa's private goods-producing industries account for over 20% of the state's total GDP.
- This trend has shown steady growth over the past decade, reflecting the state's manufacturing and agricultural strengths.
- The COVID-19 pandemic temporarily disrupted Iowa's private goods production in 2020 before a robust recovery in 2021.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Private Goods-Producing Industries in Iowa series measures the total economic output of private industries engaged in the production of physical goods within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into Iowa's industrial activity and economic growth, making it a key indicator monitored by policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Q: How is this trend used in economic policy?
A: The Gross Domestic Product: Private Goods-Producing Industries in Iowa trend is closely tracked by policymakers, economists, and businesses to analyze the state's economic conditions and inform decision-making.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Goods-Producing Industries in Iowa (IAPRIGOODPRONGSP), retrieved from FRED.