Real Gross Domestic Product: All Industry Total in Rhode Island
RIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65,864.40
Year-over-Year Change
7.25%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of all industries in the state of Rhode Island. It is a key indicator of economic growth and performance at the state level.
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
Real GDP is a comprehensive measure of economic activity, adjusted for inflation. The RIRQGSP series tracks the total output of all industries in Rhode Island, providing insights into the state's economic health and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP estimates.
Historical Context
Policymakers and analysts use this metric to assess Rhode Island's economic conditions and make informed decisions.
Key Facts
- Rhode Island's real GDP totaled $63.4 billion in 2021.
- The state's real GDP grew by 3.9% in 2021, after a 2.2% decline in 2020.
- The largest industry contributors to Rhode Island's GDP are finance, insurance, real estate, and health care.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of all industries in the state of Rhode Island. Real GDP is a comprehensive measure of economic activity, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: The RIRQGSP series provides insights into Rhode Island's economic health and competitiveness, which is relevant for policymakers, businesses, and analysts making decisions about the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Rhode Island's economic conditions and make informed decisions about economic policies, investments, and initiatives.
Q: Are there update delays or limitations?
A: The RIRQGSP data is typically published with a lag of several months, so it may not reflect the most recent economic conditions in Rhode Island.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: All Industry Total in Rhode Island (RIRQGSP), retrieved from FRED.