Chain-Type Quantity Index for Real GDP: All Industry Total in Illinois
Annual, Not Seasonally Adjusted
ILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.51
Year-over-Year Change
13.23%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted (ILQGSP) series measures the gross domestic product (GDP) of the United States. This metric is crucial for economists and policymakers to assess the overall health and growth of the national 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 ILQGSP series represents the total value of all goods and services produced within the United States in a given year, without adjusting for seasonal variations. It provides a comprehensive snapshot of economic activity and is a foundational indicator used to track long-term economic trends.
Methodology
The ILQGSP data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Historical Context
Policymakers and market analysts closely monitor the ILQGSP metric to inform decisions related to fiscal, monetary, and economic policies.
Key Facts
- ILQGSP data is released quarterly by the BEA.
- The U.S. GDP reached $23.9 trillion in 2021.
- GDP growth is a key indicator of a country's economic performance.
FAQs
Q: What does this economic trend measure?
A: The ILQGSP series measures the total value of all goods and services produced within the United States in a given year, without adjusting for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: The ILQGSP metric is a crucial indicator of the overall health and growth of the U.S. economy, and is closely monitored by policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The ILQGSP data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Q: How is this trend used in economic policy?
A: Policymakers use the ILQGSP metric to inform decisions related to fiscal, monetary, and other economic policies aimed at promoting sustainable economic growth.
Q: Are there update delays or limitations?
A: The ILQGSP data is released quarterly by the BEA, with some delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ILQGSP), retrieved from FRED.