Gross Domestic Product: Retail Trade (44-45) in Missouri
MORETAILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,243.50
Year-over-Year Change
92.58%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Retail Trade (44-45) in Missouri' measures the economic output of the retail trade sector in the state of Missouri. This key indicator provides insights into consumer spending and the overall health 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
This series represents the real gross domestic product (GDP) for the retail trade sector (NAICS codes 44-45) in the state of Missouri. It is a crucial metric for understanding the performance and trends within Missouri's retail industry and can inform business strategy, economic policymaking, and market analysis.
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
This economic trend is widely used by economists, policymakers, and businesses to gauge the strength of consumer demand and the overall economic conditions in Missouri.
Key Facts
- Missouri's retail trade sector accounts for approximately 6% of the state's overall GDP.
- The retail trade industry employs over 450,000 people in Missouri, making it a significant contributor to the state's economy.
- Real GDP in Missouri's retail trade sector has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the retail trade sector in the state of Missouri, providing insights into consumer spending and economic activity in this important industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is a crucial indicator for understanding the performance and trends within Missouri's retail industry, which can inform business strategy, economic policymaking, and market analysis.
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: This economic trend is widely used by economists, policymakers, and businesses to gauge the strength of consumer demand and the overall economic conditions in Missouri, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for minor delays in publication. Users should consult the source for the most up-to-date information and any known limitations.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Missouri (MORETAILNGSP), retrieved from FRED.