Real Gross Domestic Product: Private Industries in North Carolina
NCPIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
593,252.40
Year-over-Year Change
9.59%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) generated by private industries in the state of North Carolina. It provides insights into the economic performance and growth of the state's private sector.
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: Private Industries in North Carolina is a key economic indicator that tracks the inflation-adjusted value of goods and services produced by private businesses in the state. It is used by economists and policymakers to assess the health and dynamics of North Carolina's private-sector economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This trend is closely monitored by state and local governments, as well as businesses and investors, to inform economic policies and investment decisions.
Key Facts
- North Carolina's private industries account for over 80% of the state's total GDP.
- The trend shows real GDP growth averaging 2.5% annually over the past decade.
- Manufacturing is the largest private industry, contributing nearly 20% of the state's total private-sector output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by private industries in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: The Real Gross Domestic Product: Private Industries in North Carolina is a key indicator of the health and performance of the state's private-sector economy, which is crucial for understanding overall economic conditions and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: State and local governments, as well as businesses and investors, closely monitor this trend to inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in North Carolina (NCPIRQGSP), retrieved from FRED.