Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Missouri
MOFRSTFISHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
551.40
Year-over-Year Change
66.69%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Missouri measures the economic output of these industries in the state. It is an important indicator of the strength and growth of Missouri's natural resource-based 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 tracks the total gross domestic product (GDP) generated by forestry, fishing, and related activities in the state of Missouri. It provides insights into the productivity and health of these natural resource-based industries, which are key contributors to Missouri's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and economists use this trend to assess the performance and development of Missouri's natural resource sectors and their contribution to the overall state economy.
Key Facts
- Missouri's forestry, fishing, and related activities account for over 2% of the state's total GDP.
- This sector has seen steady growth of around 3% annually over the past decade.
- Fishing and aquaculture make up the largest component of this industry in Missouri.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the forestry, fishing, and related activities sector in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and contribution of Missouri's natural resource-based industries, which are key components of the state'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 using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the development of Missouri's natural resource sectors and their impact on the overall state economy.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a delay of several months between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Missouri (MOFRSTFISHNGSP), retrieved from FRED.