Proprietors' Farm Income in North Dakota
NDOFAR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
870.30
Year-over-Year Change
-79.48%
Date Range
1/1/1948 - 1/1/2025
Summary
Proprietors' Farm Income in North Dakota measures the total income earned by farmers and agricultural business owners in the state. It is a key indicator of the economic health and productivity of the agricultural 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
This data series represents the net income earned by sole proprietors, partnerships, and other unincorporated businesses primarily engaged in farm activities. It is a valuable metric for evaluating the profitability and financial standing of North Dakota's agricultural industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Proprietors' Farm Income is used by policymakers, economists, and investors to assess the performance and outlook of North Dakota's rural economy.
Key Facts
- North Dakota is one of the top agricultural producers in the United States.
- Farming and related industries account for a significant portion of the state's GDP.
- Proprietors' Farm Income reflects the profitability and financial health of the state's agricultural sector.
FAQs
Q: What does this economic trend measure?
A: Proprietors' Farm Income in North Dakota measures the total net income earned by farmers, ranchers, and other agricultural business owners in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating the financial performance and profitability of North Dakota's agricultural industry, which is a key driver 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.
Q: How is this trend used in economic policy?
A: Proprietors' Farm Income in North Dakota is used by policymakers, economists, and investors to assess the state of the rural economy and inform decisions related to agricultural policy and investment.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, and there may be some time lag in the reporting of the most recent figures.
Related Trends
Gross Domestic Product: Transportation and Warehousing (48-49) in North Dakota
NDTRANSWARENQGSP
Durable Manufacturing Earnings in North Dakota
NDEDUR
Monthly State Retail Sales: Building Material and Garden Equipment and Supplies Dealers in North Dakota
MSRSND444
Commercial Carbon Dioxide Emissions, Distillate Fuel for North Dakota
EMISSCO2VDFCCBNDA
Per Capita Personal Consumption Expenditures: Services for North Dakota
NDPCEPCSRV
Monthly State Retail Sales: Motor Vehicle and Parts Dealers in North Dakota
MSRSND441
Citation
U.S. Federal Reserve, Proprietors' Farm Income in North Dakota (NDOFAR), retrieved from FRED.