Gross Domestic Product: Private Industries in Idaho
IDPINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114,283.80
Year-over-Year Change
129.78%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Private Industries in Idaho series measures the total economic output of private sector industries in the state of Idaho. This key indicator provides insight into the overall health and performance of Idaho's private 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
This series represents the dollar value of all goods and services produced by private industries located in Idaho, excluding the government sector. It is a crucial metric for understanding regional economic trends and evaluating the business climate within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and administrative records.
Historical Context
Policymakers and business leaders use this metric to gauge Idaho's private sector activity and make informed decisions about economic development, taxation, and regulatory policies.
Key Facts
- Idaho's private GDP in 2021 was $95.6 billion.
- The private sector accounts for over 80% of Idaho's total economic output.
- Idaho's private GDP growth has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Private Industries in Idaho series measures the total economic output of private sector industries located within the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the overall health and performance of Idaho's private economy, which is a key driver of the state's economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this metric to gauge Idaho's private sector activity and make informed decisions about economic development, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a delay of approximately 3 months.
Related Trends
Personal Consumption Expenditures: Services: Financial Services and Insurance for Idaho
IDPCEFININS
Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Idaho
IDOTHTRANRGSP
Implicit Regional Price Deflator: Metropolitan Portion for Idaho
IDMPIRPD
Real Per Capita Personal Income: Metropolitan Portion for Idaho
IDMPRPIPC
All Employees: Financial Activities: Finance and Insurance in Idaho
SMU16000005552000001
Continued Claims (Insured Unemployment) in Idaho
IDCCLAIMS
Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Idaho (IDPINGSP), retrieved from FRED.