Gross Domestic Product: Wholesale Trade (42) in Pennsylvania
PAWHOLENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,482.50
Year-over-Year Change
43.53%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Wholesale Trade (42) in Pennsylvania measures the total value of wholesale trade activity in the state. This metric provides insight into the health and trends of Pennsylvania's wholesale sector, a key component of the state's economy.
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 Gross Domestic Product: Wholesale Trade (42) in Pennsylvania captures the total output of businesses engaged in the wholesale distribution of goods. This data point is used by economists and policymakers to analyze the performance and contributions of Pennsylvania's wholesale industry within the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in Pennsylvania's wholesale GDP are closely monitored by state and federal officials for their implications on employment, investment, and overall economic conditions.
Key Facts
- Pennsylvania's wholesale GDP accounts for over 10% of the state's total economic output.
- Wholesale trade employment in Pennsylvania exceeds 300,000 workers.
- The wholesale sector has seen steady growth in Pennsylvania over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Wholesale Trade (42) in Pennsylvania measures the total economic output of the wholesale trade industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contributions of Pennsylvania's wholesale sector, which is a critical component of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Trends in Pennsylvania's wholesale GDP are closely monitored by state and federal officials for their implications on employment, investment, and overall economic conditions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Bureau of Economic Analysis, with occasional revisions and updates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Wholesale Trade (42) in Pennsylvania (PAWHOLENGSP), retrieved from FRED.