Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Rhode Island
Quarterly, Seasonally Adjusted Annual Rate
RIPROBUSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,747.80
Year-over-Year Change
24.10%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Quarterly, Seasonally Adjusted Annual Rate' series measures the gross domestic product (GDP) growth rate in the United States on a quarterly basis. This key economic indicator provides insights into the overall health and performance of the U.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
This series represents the annualized quarterly change in real GDP, which is a comprehensive measure of the nation's economic output. It is a widely-watched statistic that economists and policymakers use to assess economic trends, make informed decisions, and track the business cycle.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and surveys.
Historical Context
The GDP growth rate is a critical input for monetary and fiscal policy decisions made by the Federal Reserve and government.
Key Facts
- GDP grew at an annualized rate of 2.9% in Q4 2022.
- The U.S. economy expanded by 2.6% in 2022 overall.
- Quarterly GDP data is released by the BEA approximately one month after the end of each quarter.
FAQs
Q: What does this economic trend measure?
A: This series measures the annualized quarterly change in real gross domestic product (GDP), which is the broadest indicator of overall economic activity in the United States.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a crucial metric that provides insight into the health and performance of the U.S. economy. It is closely watched by economists, policymakers, and investors to assess economic conditions and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and surveys.
Q: How is this trend used in economic policy?
A: The GDP growth rate is a key input for monetary and fiscal policy decisions made by the Federal Reserve and government, as it helps inform their assessments of the overall economic landscape.
Q: Are there update delays or limitations?
A: The quarterly GDP data is released by the BEA approximately one month after the end of each quarter, so there is a short delay in the availability of the most recent information.
Related Trends
All Employees: Local Government Excluding Educational Services in Rhode Island
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Real Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Rhode Island
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Real Gross Domestic Product: Management of Companies and Enterprises (55) in Rhode Island
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Housing Inventory: Price Increased Count Month-Over-Month in Rhode Island
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Resident Population in Rhode Island
RIPOP
Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (RIPROBUSNQGSP), retrieved from FRED.