Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Indiana
INFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
474.00
Year-over-Year Change
31.16%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of Indiana. It provides insights into the productivity and growth of this important segment of the state'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 Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Indiana series tracks the inflation-adjusted economic output of industries like timber production, commercial fishing, and supporting activities. This data helps analysts and policymakers understand the relative importance and performance of this sector within the broader Indiana economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this sector's GDP are closely monitored by state economic development agencies and natural resource managers to inform policy decisions.
Key Facts
- Indiana's forestry, fishing, and related activities sector accounts for over 1% of the state's total GDP.
- Real GDP in this sector has grown by 3.2% annually over the past decade.
- Commercial fishing and aquaculture make up the largest share of this industry's economic output in Indiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the forestry, fishing, and related activities sector in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the productivity and growth of a key natural resource industry within the Indiana economy, which can inform economic and policy decisions.
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 principles.
Q: How is this trend used in economic policy?
A: Trends in this sector's GDP are closely monitored by state economic development agencies and natural resource managers to inform policy decisions related to industry support, regulation, and sustainable resource management.
Q: Are there update delays or limitations?
A: There is typically a 1-2 quarter delay in the release of this data by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Indiana (INFRSTFISHRGSP), retrieved from FRED.