Real Gross Domestic Product: Construction (23) in Idaho
IDCONSTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,648.20
Year-over-Year Change
0.66%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Construction (23) in Idaho measures the inflation-adjusted economic output of the construction industry in the state. This indicator provides insights into the health and growth of Idaho's construction sector, which is a key driver of economic activity.
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 Real Gross Domestic Product: Construction (23) in Idaho tracks the real (inflation-adjusted) value added by the construction industry to the state's overall economic output. It is a useful metric for analyzing the performance and contribution of the construction sector to Idaho's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and investors to assess the state of Idaho's construction activity and its implications for the broader economy.
Key Facts
- Idaho's construction GDP was $6.4 billion in 2021.
- The construction sector accounts for 5.2% of Idaho's total GDP.
- Construction GDP in Idaho grew by 3.8% in 2021.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Construction (23) in Idaho measures the inflation-adjusted economic output of the construction industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health and growth of Idaho's construction sector, which is a key driver of economic activity in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, industry analysts, and investors to assess the state of Idaho's construction activity and its implications for the broader economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Construction (23) in Idaho (IDCONSTRQGSP), retrieved from FRED.