Real Gross Domestic Product: Wholesale Trade (42) in Minnesota
MNWHOLERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,152.80
Year-over-Year Change
2.92%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Wholesale Trade (42) in Minnesota is a key economic indicator that measures the real output of the wholesale trade sector in the state. It provides important insights into the overall health and growth of the Minnesota 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
This series represents the real (inflation-adjusted) value added by the wholesale trade industry in Minnesota. It is a crucial measure for economists and policymakers to assess the performance and productivity of a major component of the state's economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
Trends in this metric are closely monitored by market analysts, business leaders, and government officials to inform economic policy decisions.
Key Facts
- Minnesota's wholesale trade sector accounts for over 6% of the state's GDP.
- The real GDP of wholesale trade in Minnesota has grown by an average of 2.5% annually over the past decade.
- Wholesale trade is the second-largest private industry in Minnesota by GDP contribution.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Wholesale Trade (42) in Minnesota measures the real output and value added by the wholesale trade industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the health and performance of a major component of Minnesota's economy, which is essential for economic analysis 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 methods.
Q: How is this trend used in economic policy?
A: Trends in this metric are closely monitored by market analysts, business leaders, and government officials to inform economic policy decisions in Minnesota.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 2-3 months from the end of the reference period.
Related Trends
Gross Domestic Product: Computer Systems Design and Related Services (5415) in Minnesota
MNCPUSYSDSGNNGSP
Retail Trade Wages and Salaries in Minnesota
MNWRET
All Employees: Financial Activities: Agencies, Brokerages, and Other Insurance Related Activities in Minnesota
SMU27000005552420001SA
Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Minnesota
MNFABRMETRGSP
State Tax Collections: T99 Taxes, Not Elsewhere Classified for Minnesota
QTAXT99QTAXCAT3MNNO
Value of Exports to United Kingdom from Minnesota
MNGBRA052SCEN
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wholesale Trade (42) in Minnesota (MNWHOLERGSP), retrieved from FRED.