Average Weekly Hours of Production Employees: Construction in Connecticut
Annual
SMU09000002000000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.40
Year-over-Year Change
1.59%
Date Range
1/1/2001 - 1/1/2024
Summary
The Annual trend measures the total annual output for the state of New York's private sector, a key economic indicator for policymakers and analysts.
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 Annual trend represents the total private-industry output, including goods and services, produced in the state of New York over a full calendar year. This metric provides a comprehensive overview of economic activity and productivity in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of private establishments.
Historical Context
The Annual trend is widely used to assess the overall health and direction of New York's economy by government, businesses, and financial markets.
Key Facts
- New York is the 4th largest state economy in the U.S.
- Private industry accounts for over 80% of New York's GDP.
- Annual output has grown by an average of 2.5% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total annual output or production of the private sector in the state of New York, including goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Annual trend provides a comprehensive overview of economic activity and productivity in New York, which is a key indicator for policymakers, businesses, and financial markets.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of private establishments in New York.
Q: How is this trend used in economic policy?
A: The Annual trend is widely used to assess the overall health and direction of New York's economy, informing policy decisions by state and local governments.
Q: Are there update delays or limitations?
A: The Annual data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU09000002000000007A), retrieved from FRED.