Real Gross Domestic Product: Trade (42, 44-45) in Mississippi
MSTRADERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,620.20
Year-over-Year Change
23.84%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Trade (42, 44-45) in Mississippi' series measures the inflation-adjusted contribution of the trade sector to Mississippi's economic output. This indicator provides insights into the health and growth of the state's retail and wholesale trade industries.
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 data series represents the real (inflation-adjusted) value added by the trade sector, which includes retail and wholesale trade, to Mississippi's gross domestic product (GDP). It is a key indicator of the trade industry's performance and its role in the state's overall economic activity.
Methodology
The U.S. Bureau of Economic Analysis collects and calculates this data using established national income and product accounting methodologies.
Historical Context
Policymakers and economists monitor this trend to assess the strength of Mississippi's trade sector and its contribution to the state's economic growth.
Key Facts
- The trade sector accounts for approximately 15% of Mississippi's GDP.
- Real trade GDP in Mississippi grew by 3.2% in 2021 compared to the prior year.
- Wholesale trade makes up the largest share of the state's trade industry.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted contribution of the trade sector, including retail and wholesale trade, to Mississippi's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the performance and economic importance of Mississippi's trade industry, which is a key component of the state's overall economic activity.
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 methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the strength of Mississippi's trade sector and its contribution to the state's economic growth, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Trade (42, 44-45) in Mississippi (MSTRADERGSP), retrieved from FRED.