Real Gross Domestic Product: Retail Trade (44-45) in Missouri
MORETAILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,375.40
Year-over-Year Change
48.41%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures real gross domestic product (GDP) for the retail trade industry in Missouri. It provides insights into the economic performance and trends in the state's retail 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: Retail Trade (44-45) in Missouri series tracks the inflation-adjusted output of the retail trade industry in the state. It is a key indicator of consumer spending and overall economic activity in Missouri.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This metric is widely used by policymakers, economists, and businesses to assess the health and trajectory of Missouri's economy.
Key Facts
- Missouri's retail trade industry accounts for approximately 6% of the state's total GDP.
- Real retail GDP in Missouri has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a sharp decline in Missouri's retail trade output in 2020.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted gross domestic product (GDP) of the retail trade industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: The Missouri retail trade GDP metric provides valuable insights into consumer spending patterns and the overall health 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 national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to assess the performance and trajectory of Missouri's economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, and may be subject to revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Retail Trade (44-45) in Missouri (MORETAILRGSP), retrieved from FRED.