Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Mississippi
MSFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
703.60
Year-over-Year Change
36.94%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in Mississippi. It provides insight into the economic performance of this important industry in the state.
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: Forestry, Fishing, and Related Activities (113-115) in Mississippi trend represents the inflation-adjusted total economic output of the forestry, fishing, and related activities industry in the state. It is a key indicator of the health and productivity of this natural resource-based sector.
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 trend is closely monitored by policymakers, industry groups, and economists to assess the economic conditions and outlook for Mississippi's natural resource industries.
Key Facts
- Mississippi is a leading producer of forestry and fishing products in the U.S.
- This sector accounts for over 5% of the state's total economic output.
- The industry employs more than 25,000 workers in Mississippi.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the forestry, fishing, and related activities sector in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and economic contribution of a critical natural resource industry in Mississippi, which is closely watched by policymakers, businesses, and economists.
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 trend is used by policymakers, industry groups, and economists to assess the economic conditions and outlook for Mississippi's forestry, fishing, and related activities sector, which informs policy decisions and strategic planning.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month lag, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Mississippi (MSFRSTFISHRGSP), retrieved from FRED.