Gross Domestic Product: Retail Trade (44-45) in Mississippi
MSRETAILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,976.50
Year-over-Year Change
77.47%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for the Retail Trade (44-45) industry in Mississippi measures the total economic output of this sector in the state. It is a key indicator of consumer demand and spending patterns.
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 Retail Trade GDP represents the value added by businesses primarily engaged in retail activities, such as selling merchandise and providing services directly to consumers. This data offers insights into the health and growth of Mississippi's consumer economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
Policymakers and analysts use this metric to assess the performance of Mississippi's retail sector and its contribution to the state's overall economic activity.
Key Facts
- Mississippi's Retail Trade GDP was $23.6 billion in 2021.
- The sector accounts for approximately 10% of the state's total economic output.
- Retail Trade GDP in Mississippi has grown by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for the Retail Trade (44-45) industry in Mississippi measures the total economic output of this sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric offers insights into the health and growth of Mississippi's consumer economy, which is a key driver of the state's overall economic performance.
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 government and private data sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the performance of Mississippi's retail sector and its contribution to the state's overall economic activity.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months.
Related Trends
Residential Carbon Dioxide Emissions, Kerosene for Mississippi
EMISSCO2VKSRCBMSA
All Employees: Durable Goods: Ship and Boat Building in Mississippi
SMU28000003133660001A
Average Weekly Hours of Production Employees: Manufacturing in Mississippi
SMU28000003000000007
Regional Price Parities: Services: Housing: Metropolitan Portion for Mississippi
MSMPRPPSERVERENT
All Employees: Manufacturing: Durable Goods: Ship and Boat Building in Mississippi
SMU28000003133660001
Average Hourly Earnings of Production Employees: Manufacturing: Durable Goods in Mississippi
SMU28000003100000008A
Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Mississippi (MSRETAILNGSP), retrieved from FRED.