Gross Domestic Product: Utilities (22) in North Carolina
NCUTILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,408.70
Year-over-Year Change
-16.44%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Utilities (22) in North Carolina trend measures the economic output of the utilities sector in the state. This metric is crucial for understanding North Carolina's economic performance and the role of the utilities industry.
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 tracks the gross domestic product, or GDP, generated by the utilities industry in North Carolina. The utilities sector includes electric power, natural gas, water, and sewage treatment. Analyzing this trend provides insights into the state's economic composition and the contribution of utilities to overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry surveys and economic modeling.
Historical Context
Policymakers and economists use this trend to assess the health and growth of North Carolina's utilities sector and its impact on the broader state economy.
Key Facts
- North Carolina's utilities GDP was $10.2 billion in 2021.
- The utilities sector accounts for approximately 2.5% of North Carolina's total GDP.
- Utilities GDP growth in North Carolina has averaged 2.8% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the utilities sector in the state of North Carolina, including electric power, natural gas, water, and sewage treatment.
Q: Why is this trend relevant for users or analysts?
A: Analyzing the utilities GDP trend provides insights into the role and performance of this key industry within North Carolina's economy, which is useful for policymakers, investors, and economic researchers.
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 industry surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and growth of North Carolina's utilities sector and its impact on the broader state economy, informing decisions related to infrastructure, regulation, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic conditions.
Related Trends
Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for North Carolina
NCPCEPCHCE
All Employees: Service-Providing in North Carolina
SMS37000000700000001
Number of Identified Exporters to Poland from North Carolina
NCPOLA475SCEN
Gross Domestic Product: Rail Transportation (482) in North Carolina
NCRAILTRANNGSP
Value of Exports to Italy from North Carolina
NCITAA052SCEN
Coefficient for Residential Carbon Dioxide Emissions, Kerosene for North Carolina
EMISSCO2CKSRCBNCA
Citation
U.S. Federal Reserve, Gross Domestic Product: Utilities (22) in North Carolina (NCUTILNQGSP), retrieved from FRED.