Real Gross Domestic Product: Wholesale Trade (42) in Illinois
ILWHOLERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62,622.20
Year-over-Year Change
-1.81%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Real Gross Domestic Product: Wholesale Trade (42) in Illinois' series measures the inflation-adjusted output of the wholesale trade sector in Illinois. This metric is an important indicator of economic activity and productivity in the state.
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 value-added output of the wholesale trade industry in Illinois, one of the largest components of the state's GDP. Economists and policymakers use this data to assess the overall health and performance of Illinois' economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Trends in Illinois' wholesale trade GDP are closely watched by state and national policymakers for insights into the broader economic conditions.
Key Facts
- Illinois is the 5th largest state economy in the U.S.
- Wholesale trade accounts for over 6% of Illinois' GDP.
- Real wholesale trade GDP in Illinois grew 3.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted value-added output of the wholesale trade industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Trends in Illinois' wholesale trade GDP provide important insights into the overall health and performance of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: State and national policymakers closely monitor this data to assess broader economic conditions and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wholesale Trade (42) in Illinois (ILWHOLERQGSP), retrieved from FRED.