Real Gross Domestic Product: Private Industries in Idaho
IDPIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89,041.90
Year-over-Year Change
9.43%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Real Gross Domestic Product: Private Industries in Idaho' trend measures the inflation-adjusted economic output of private industries in the state of Idaho. It is a key indicator of the state's economic health and growth.
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 data series tracks the real GDP, or total value of goods and services produced, by private companies and industries in Idaho, excluding the public sector. It is a widely-used metric for analyzing the performance and dynamics of Idaho's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and government sources.
Historical Context
Policymakers, economists, and businesses use this trend to understand Idaho's economic conditions and make informed decisions.
Key Facts
- Idaho's real private GDP grew by 3.2% in 2021.
- Private industries account for over 80% of Idaho's total economic output.
- The tech and manufacturing sectors are major drivers of Idaho's private GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) generated by private industries in the state of Idaho, excluding the public sector.
Q: Why is this trend relevant for users or analysts?
A: The real GDP of Idaho's private industries is a crucial indicator of the state's overall economic performance and growth, providing insights for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and government sources.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this trend to understand Idaho's economic conditions and make informed decisions related to economic development, investment, and policy.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a delay of several months, and may be subject to revisions as more information becomes available.
Related Trends
Average Hourly Earnings of All Employees: Manufacturing in Idaho
SMU16000003000000003A
State Government Tax Collections, Motor Vehicle Licenses in Idaho
IDMOTOLICTAX
State Government Tax Collections, Motor Vehicle Operators Licenses in Idaho
IDMVOPERTAX
Real Gross Domestic Product: Health Care and Social Assistance (62) in Idaho
IDHLTHSOCASSRGSP
All Employees: Construction: Residential Building Construction in Idaho
SMU16000002023610001SA
All Employees: Information in Idaho
SMU16000005000000001A
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Idaho (IDPIRQGSP), retrieved from FRED.