Gross Domestic Product: Farms (111-112) in Nebraska
NEFARMNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,066.30
Year-over-Year Change
31.37%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Farms (111-112) in Nebraska measures the economic output of the agricultural sector in the state. It provides insights into the health and productivity of Nebraska's farming 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 metric tracks the inflation-adjusted value added by farms in the crop and animal production industries in Nebraska. It is a key indicator of the state's agricultural economy and an important input for policymakers and economists analyzing regional economic trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP accounting.
Historical Context
This trend is widely used by agricultural economists, state planners, and market analysts to assess the performance and outlook of Nebraska's farming sector.
Key Facts
- Nebraska is one of the top agricultural producing states in the U.S.
- Crops and livestock account for over 25% of Nebraska's total economic output.
- The state's farming GDP has grown by an average of 3.2% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Farms (111-112) in Nebraska measures the inflation-adjusted economic output of the state's crop and animal production industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and productivity of Nebraska's crucial agricultural sector, which is a major 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 as part of its regional GDP accounting.
Q: How is this trend used in economic policy?
A: This trend is widely used by agricultural economists, state planners, and market analysts to assess the performance and outlook of Nebraska's farming sector, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Farms (111-112) in Nebraska (NEFARMNGSP), retrieved from FRED.