Gross Domestic Product: Information (51) in Idaho
Annual, Not Seasonally Adjusted
IDINFONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,720.90
Year-over-Year Change
99.42%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the total gross state product (GSP) for the United States on an annual, unadjusted basis. This key economic indicator provides insight into the overall size and performance of the U.S. economy.
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
Gross state product is the value of all goods and services produced within a state's economy, similar to the national-level gross domestic product (GDP). This annual, unadjusted GSP data is used by economists and policymakers to analyze economic growth, productivity, and regional performance trends.
Methodology
The U.S. Bureau of Economic Analysis collects and calculates this GSP data from a variety of sources including business surveys and government data.
Historical Context
Tracking GSP trends helps inform economic and fiscal policy decisions at the state and national level.
Key Facts
- Gross state product totaled over $23 trillion in 2021.
- California accounts for the largest share of U.S. GSP at around 14%.
- Real GSP grew by 5.7% on average from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the total gross state product (GSP) for the United States on an annual, unadjusted basis.
Q: Why is this trend relevant for users or analysts?
A: Tracking GSP trends helps inform economic and fiscal policy decisions at the state and national level by providing insight into overall economic size, performance, and regional variations.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this GSP data from a variety of sources including business surveys and government data.
Q: How is this trend used in economic policy?
A: Gross state product data is used by economists and policymakers to analyze economic growth, productivity, and regional performance trends, which informs decisions on fiscal, monetary, and development policies.
Q: Are there update delays or limitations?
A: The GSP data is reported annually with a lag of several months, so the most recent year's figures may not be fully available.
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Regional Price Parities: All Items: Metropolitan Portion for Idaho
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Coefficient for Transportation Carbon Dioxide Emissions, LPG (Fuel Use) for Idaho
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All Employees: Retail Trade: Warehouse Clubs, Supercenters, and Other General Merchandise Retailers in Idaho
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (IDINFONGSP), retrieved from FRED.