Real Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Idaho
Quarterly, Seasonally Adjusted Annual Rate
IDPROBUSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,764.60
Year-over-Year Change
20.81%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (IDPROBUSRQGSP) measures the inflation-adjusted value of total economic output in the United States on a quarterly basis. It is a key indicator used by economists and policymakers to assess the overall health and growth 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
The Quarterly, Seasonally Adjusted Annual Rate (IDPROBUSRQGSP) represents the total market value of all final goods and services produced within the United States in a given quarter, adjusted for seasonal variations and expressed as an annualized rate. It is a comprehensive measure of economic activity and a widely followed barometer of the nation's economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
Policymakers and market analysts closely monitor the Quarterly, Seasonally Adjusted Annual Rate to gauge the strength and trajectory of the U.S. economy and inform their decision-making.
Key Facts
- The Quarterly, Seasonally Adjusted Annual Rate reached a record high of $23.9 trillion in the fourth quarter of 2021.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic, before rebounding with 5.7% growth in 2021.
- Rapid economic growth in the U.S. has led to concerns about rising inflation and the potential for interest rate hikes by the Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate (IDPROBUSRQGSP) measures the total market value of all final goods and services produced within the United States in a given quarter, adjusted for seasonal variations and expressed as an annualized rate.
Q: Why is this trend relevant for users or analysts?
A: The Quarterly, Seasonally Adjusted Annual Rate is a comprehensive measure of economic activity and a widely followed barometer of the nation's economic performance, making it a crucial indicator for economists, policymakers, and market analysts.
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 sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor the Quarterly, Seasonally Adjusted Annual Rate to gauge the strength and trajectory of the U.S. economy and inform their decision-making, particularly with respect to monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The Quarterly, Seasonally Adjusted Annual Rate data is released by the U.S. Bureau of Economic Analysis on a regular schedule, with the most recent quarter's data typically available within a month after the end of the quarter.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (IDPROBUSRQGSP), retrieved from FRED.