Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in North Carolina
NCFRSTFISHRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
932.80
Year-over-Year Change
14.06%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the forestry, fishing, and related activities sector in North Carolina. It provides insight into the performance and contribution of this important industry to the state'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
The Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in North Carolina metric tracks the inflation-adjusted economic output of businesses engaged in the harvesting of timber, fishing, and related support activities. It is a key indicator of the health and productivity of this natural resource-based industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, economic analysts, and industry stakeholders to assess the competitiveness and growth potential of North Carolina's forestry and fishing sectors.
Key Facts
- North Carolina is a major forestry and fishing state.
- The forestry and fishing sector accounts for over 5% of the state's GDP.
- This industry employs more than 50,000 North Carolinians.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the forestry, fishing, and related activities sector in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the performance and economic contribution of North Carolina's natural resource-based industries, which are important drivers of the state's economy.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and other stakeholders closely monitor this trend to assess the competitiveness and growth potential of North Carolina's forestry and fishing sectors.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to revision and updates can have a lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in North Carolina (NCFRSTFISHRGSP), retrieved from FRED.