Gross Domestic Product: All Industry Total in Mississippi
MSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157,491.00
Year-over-Year Change
56.08%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: All Industry Total in Mississippi measures the total economic output of all industries within the state. This key indicator provides insights into the overall health and growth of Mississippi'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 total value of goods and services produced in Mississippi, serving as a comprehensive measure of the state's economic activity. It is widely used by economists, policymakers, and analysts to track economic trends and inform decision-making.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
Trends in Mississippi's GDP are closely monitored by government agencies, businesses, and investors to assess the state's economic performance and outlook.
Key Facts
- Mississippi's GDP reached $124 billion in 2021.
- The state's economy grew by 3.2% in 2021 compared to the previous year.
- The largest industry contributors to Mississippi's GDP are healthcare, manufacturing, and agriculture.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: All Industry Total in Mississippi measures the total value of goods and services produced within the state, providing a comprehensive gauge of its economic activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the overall health and performance of Mississippi's economy, which is important for policymakers, businesses, and investors when making informed decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: Trends in Mississippi's GDP are closely monitored by government agencies, businesses, and investors to assess the state's economic performance and inform policy decisions, investment strategies, and market analysis.
Q: Are there update delays or limitations?
A: The GDP data for Mississippi is typically released on a quarterly basis, with some potential for minor delays in availability.
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Citation
U.S. Federal Reserve, Gross Domestic Product: All Industry Total in Mississippi (MSNGSP), retrieved from FRED.