Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Mississippi
MSFRSTFISHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
829.30
Year-over-Year Change
81.90%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Mississippi measures the economic output of these industries in the state. It provides insights into the strength and performance of natural resource-based sectors.
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 economic trend represents the contribution of forestry, fishing, and related activities to Mississippi's overall GDP. It is an important indicator for understanding the state's natural resource-based industries and their role in the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
Policymakers and industry analysts use this trend to monitor the health and competitiveness of Mississippi's natural resource sectors.
Key Facts
- Mississippi's forestry, fishing, and related activities contributed $1.2 billion to state GDP in 2021.
- These industries account for over 2% of Mississippi's total economic output.
- The trend has shown steady growth in recent years, reflecting the importance of natural resources to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the forestry, fishing, and related activities industries in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and importance of Mississippi's natural resource-based sectors, which are key contributors to the state's overall economic output.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to monitor the health and competitiveness of Mississippi's forestry, fishing, and related activities, which are important to the state's economy.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be delays of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Mississippi (MSFRSTFISHNGSP), retrieved from FRED.