Gross Domestic Product: Private Industries in Mississippi
MSPINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132,620.60
Year-over-Year Change
58.88%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of private industries in the state of Mississippi. It is a key indicator of the state's economic performance and growth.
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 Gross Domestic Product: Private Industries in Mississippi series tracks the total economic output of private sector industries within the state, excluding government activity. This metric provides insight into the overall health and productivity of Mississippi's private economy.
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 widely used by policymakers, analysts, and businesses to assess Mississippi's economic conditions and make informed decisions.
Key Facts
- Mississippi's private GDP was $106 billion in 2021.
- The state's private industries account for over 80% of total economic output.
- The trade, transportation, and utilities sector is the largest contributor to Mississippi's private GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) of private industries located in the state of Mississippi, excluding government activity.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the overall health and productivity of Mississippi's private economy, which is crucial for policymakers, businesses, and analysts to assess the state's economic conditions and performance.
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 widely used by policymakers, economists, and businesses to analyze Mississippi's economic conditions, inform policy decisions, and make informed business strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a few months' delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Mississippi (MSPINGSP), retrieved from FRED.