Real Gross Domestic Product: Construction (23) in Missouri
MOCONSTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,402.80
Year-over-Year Change
30.74%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the real gross domestic product (GDP) of the construction industry in Missouri. It is a key indicator of economic activity and growth in the state's construction sector.
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: Construction (23) in Missouri series tracks the output and productivity of the construction industry within the state's overall economic performance. It is a valuable metric for analyzing trends in construction, investment, and broader economic conditions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This series informs policymakers and businesses about the health and trajectory of Missouri's construction industry and its contribution to the state's economy.
Key Facts
- Missouri's construction GDP accounts for over 4% of the state's total economic output.
- The construction industry employs more than 150,000 workers in Missouri.
- Real construction GDP in Missouri has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the real gross domestic product (GDP) of the construction industry in the state of Missouri. It reflects the overall output and productivity of the construction sector within the state's economy.
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a key driver of economic activity and investment, so this metric provides valuable insights into the health and trajectory of Missouri's economy. It informs decision-making for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This series is used by policymakers, economists, and market analysts to assess the performance and outlook of Missouri's construction sector and its broader impact on the state's economy. It informs decisions around infrastructure investment, housing policy, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be a lag of several months between the end of a reporting period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Construction (23) in Missouri (MOCONSTRGSP), retrieved from FRED.