Gross Domestic Product: Wholesale Trade (42) in Illinois
Annual, Not Seasonally Adjusted
ILWHOLENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91,792.20
Year-over-Year Change
61.79%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' economic trend measures the total value of goods and services produced by the U.S. economy over a year. It provides a broad gauge of national economic activity 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 metric, known as Gross Domestic Product (GDP), is a widely used indicator of economic performance. It represents the total monetary value of all final goods and services produced within a country's borders over a 12-month period.
Methodology
The U.S. Bureau of Economic Analysis collects and calculates GDP data from surveys of businesses, households, and government agencies.
Historical Context
GDP is a key input for policymakers, analysts, and markets to assess the overall health of the U.S. economy.
Key Facts
- The U.S. GDP in 2022 was over $23 trillion.
- GDP growth averaged 2.5% per year from 2010-2019.
- The COVID-19 pandemic caused a 3.4% contraction in U.S. GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' metric measures the total value of goods and services produced by the U.S. economy over a 12-month period. This is known as Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: GDP is a widely used indicator of national economic performance and growth. It provides a comprehensive picture of overall economic activity, which is crucial for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects data from surveys of businesses, households, and government agencies to calculate GDP.
Q: How is this trend used in economic policy?
A: GDP data is a key input for policymakers, economists, and market analysts to assess the health of the U.S. economy and inform decisions on fiscal and monetary policy.
Q: Are there update delays or limitations?
A: GDP data is released quarterly by the U.S. Bureau of Economic Analysis, with an initial estimate followed by two revisions. There can be a 1-2 month lag in the availability of the most recent GDP figures.
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ILCANA475SCEN
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SMU17000006562110001A
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ILWHOLENGSP), retrieved from FRED.