Chain-Type Quantity Index for Real GDP: Private Industries in North Dakota
Annual, Not Seasonally Adjusted
NDPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.22
Year-over-Year Change
12.35%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the dollar value of total goods and services produced in the United States over a 12-month period. It is a key indicator of overall economic output and growth.
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 series tracks the nominal gross domestic product (GDP) of the United States, which is the total market value of all final goods and services produced in the country. It is a widely used metric for assessing the size and health of the national economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and economic indicators.
Historical Context
The GDP trend is closely monitored by policymakers, analysts, and investors to inform economic and financial decision-making.
Key Facts
- U.S. GDP reached a record high of over $23 trillion in 2021.
- Real GDP growth averaged 2.3% annually from 2010-2019.
- Consumer spending accounts for around 70% of total U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the total dollar value of all goods and services produced in the United States over a 12-month period, known as the nominal gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: GDP is a widely used barometer of economic health and performance. Analyzing GDP trends helps policymakers, businesses, and investors assess the overall size and growth of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys, economic indicators, and national income and product accounts.
Q: How is this trend used in economic policy?
A: GDP growth is a key consideration for the Federal Reserve and other policymakers when making decisions about monetary policy, fiscal policy, and economic interventions.
Q: Are there update delays or limitations?
A: The GDP data is released quarterly with an initial estimate, followed by revisions as more complete information becomes available. There can be a several-month lag between the end of a quarter and the final GDP figure.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (NDPIQGSP), retrieved from FRED.