Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Rhode Island
Annual, Not Seasonally Adjusted
RIAGRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.80
Year-over-Year Change
2.57%
Date Range
1/1/1997 - 1/1/2023
Summary
The Annual, Not Seasonally Adjusted series measures the growth rate of real gross state product, providing a broad indicator of economic activity across U.S. states and regions.
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 economic series tracks the year-over-year change in real gross state product, which represents the total economic output of each state adjusted for inflation. It is a key measure used by policymakers and analysts to assess regional economic performance and trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and statistical models.
Historical Context
This metric helps inform policy decisions and business strategies by providing insight into the relative economic health and growth patterns of different U.S. states and geographic areas.
Key Facts
- Real gross state product grew by an average of 2.5% annually from 2010-2020.
- The state with the fastest real GDP growth in 2021 was Utah at 6.9%.
- Economic output contracted in 47 states during the COVID-19 pandemic in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series tracks the year-over-year growth rate of real gross state product, which represents the total economic output of each U.S. state adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the relative economic performance and growth patterns of different states and regions, helping to inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and statistical models.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess regional economic conditions and trends, which can inform decisions around infrastructure investment, tax policy, and other initiatives aimed at promoting economic growth.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a delay of several months. Users should be aware that there may be revisions to historical data as additional information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (RIAGRRGSP), retrieved from FRED.