Gross Domestic Product: Trade (42, 44-45) in Mississippi
MSTRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,301.90
Year-over-Year Change
71.16%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Trade (42, 44-45) in Mississippi measures the economic output of the trade sector in the state. This metric is important for policymakers and analysts to understand the health and trends 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 trade industry's contribution to the overall Gross Domestic Product (GDP) of Mississippi. It covers subsectors 42 (Wholesale Trade) and 44-45 (Retail Trade) of the North American Industry Classification System (NAICS).
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and data sources.
Historical Context
Tracking this trade GDP metric helps inform economic policy decisions and provide insight into Mississippi's business and consumer activity.
Key Facts
- Mississippi's trade GDP represents 17.8% of the state's total economic output.
- The trade sector employed over 325,000 workers in Mississippi as of 2021.
- Trade GDP in Mississippi has grown by 4.2% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the economic output or value-added of the trade sector, including wholesale and retail trade, in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: Tracking trade GDP provides insight into a key driver of Mississippi's economy and can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis using surveys and other economic data sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trade GDP metric to assess the health and growth of Mississippi's economy, particularly the trade and consumer sectors.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in Mississippi (MSTRADENGSP), retrieved from FRED.