Real Gross Domestic Product: Trade (42, 44-45) in Idaho
IDTRADERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,904.60
Year-over-Year Change
69.27%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Trade (42, 44-45) in Idaho' series measures the inflation-adjusted economic output of the trade sector in Idaho. This metric is closely watched by economists and policymakers to gauge the health and growth of Idaho'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
This series tracks the real GDP, or inflation-adjusted economic output, specifically for the trade sector in Idaho. The trade sector encompasses wholesale and retail trade, including businesses involved in selling merchandise and providing related services. Monitoring this metric helps economists and analysts understand broader economic trends in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Policymakers and market analysts frequently reference this series to inform decisions around economic and fiscal policy in Idaho.
Key Facts
- Idaho's trade sector accounts for over 20% of the state's total GDP.
- Real trade GDP in Idaho has grown by an average of 3% annually over the past decade.
- The trade sector is the second-largest contributor to Idaho's overall economic output.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) of the trade sector in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: Tracking the trade sector's economic output is crucial for understanding broader economic conditions and growth in Idaho.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts frequently reference this series to inform decisions around economic and fiscal policy in Idaho.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
Related Trends
Personal Consumption Expenditures: Goods for Idaho
IDPCEG
Personal Consumption Expenditures: Services: Financial Services and Insurance for Idaho
IDPCEFININS
Gross Domestic Product: Private Services-Providing Industries in Idaho
IDPRISERVPRONGSP
Regional Price Parities: Goods: Nonmetropolitan Portion for Idaho
IDNMPRPPGOOD
Imports of Goods: Manufactured Commodities for Idaho
IMPMANID
Chain-Type Quantity Index for Real GDP: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Idaho
IDFRBCIQGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Trade (42, 44-45) in Idaho (IDTRADERGSP), retrieved from FRED.