Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Idaho
Annual, Not Seasonally Adjusted
IDAGRNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,233.40
Year-over-Year Change
51.97%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' economic trend measures the value of agricultural income in the United States. This indicator is important for economists and policymakers to understand the overall performance and health of the agricultural 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
This series represents the total annual income generated by the agricultural industry in the United States. It is a key metric used to analyze the economic conditions and productivity of the nation's farming and food production activities.
Methodology
The data is collected and calculated by the U.S. Department of Agriculture (USDA) based on comprehensive surveys and industry reporting.
Historical Context
Analysts and policymakers use this trend to gauge the strength of the agricultural economy and inform decisions around agricultural subsidies, trade policy, and food security.
Key Facts
- The agricultural sector accounts for over $1 trillion in annual economic output.
- US farm incomes have grown by 30% over the past decade.
- The agricultural industry employs over 20 million American workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total annual income generated by the agricultural industry in the United States, including crop and livestock production.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the overall health and performance of the agricultural sector, which is a critical component of the US economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the USDA based on comprehensive industry surveys and reporting.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to inform decisions around agricultural subsidies, trade policy, and food security.
Q: Are there update delays or limitations?
A: The data is released annually with a lag of several months, so it may not reflect the most current conditions in the agricultural sector.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (IDAGRNGSP), retrieved from FRED.