Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Minnesota
Annual, Not Seasonally Adjusted
MNAGRNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,398.00
Year-over-Year Change
-38.26%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' economic trend measures nominal gross output by the U.S. non-agricultural private industries. It is a key indicator of overall economic activity and productivity.
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 annual, unadjusted series represents the total dollar value of goods and services produced by private, non-farm businesses in the United States. It is a comprehensive measure of national economic output used to gauge the health and growth of the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys of private industry output.
Historical Context
Policymakers and analysts monitor this trend to assess macroeconomic conditions and inform decisions around fiscal, monetary, and regulatory policies.
Key Facts
- The series dates back to 1947.
- The U.S. non-agricultural private sector accounts for over 80% of total GDP.
- Nominal gross output averaged $17.3 trillion annually from 2017-2021.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the total dollar value of goods and services produced by private, non-farm businesses in the United States.
Q: Why is this trend relevant for users or analysts?
A: This comprehensive measure of national economic output is crucial for assessing the overall health and growth of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys of private industry output.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to evaluate macroeconomic conditions and inform decisions around fiscal, monetary, and regulatory policies.
Q: Are there update delays or limitations?
A: The annual data series is released with a several month lag, reflecting the time required to collect and process the underlying industry surveys.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MNAGRNGSP), retrieved from FRED.