Gross Domestic Product: Utilities (22) in Rhode Island
RIUTILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,568.50
Year-over-Year Change
56.27%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Utilities (22) in Rhode Island measures the economic output of the utilities sector in the state. This metric is important for economists and policymakers to understand the health and productivity of a key 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
The Gross Domestic Product: Utilities (22) in Rhode Island represents the value added by the utilities sector, including electric, gas, water, and sewer services, to the state's overall economic output. It is a component of the broader state GDP statistic and provides insight into this critical infrastructure industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
This GDP by industry metric helps inform economic and infrastructure policy decisions at the state level.
Key Facts
- Rhode Island's utilities GDP was $1.03 billion in 2021.
- The utilities sector accounts for about 2% of Rhode Island's total GDP.
- Utilities GDP has grown by 3.2% annually on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Utilities (22) in Rhode Island measures the economic output and value added by the utilities sector, including electricity, natural gas, water, and sewer services, within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and health of a critical infrastructure industry in Rhode Island, which is important for economic and policy analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: The utilities GDP metric helps inform state-level economic and infrastructure policy decisions, as the utilities sector is a key component of a state's overall economic output.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Utilities (22) in Rhode Island (RIUTILNQGSP), retrieved from FRED.