Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Tennessee
TNAGRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,243.80
Year-over-Year Change
13.67%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the agriculture, forestry, fishing, and hunting sector in Tennessee. It provides insights into the productivity and economic contribution of these key industries within the state.
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 Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Tennessee series tracks the inflation-adjusted total output of these natural resource-based industries. It is an important indicator for understanding the health and trends in Tennessee's rural economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by policymakers, businesses, and analysts to assess the performance and outlook of Tennessee's natural resource industries and their role in the state's overall economic development.
Key Facts
- Tennessee's agriculture, forestry, fishing and hunting sector accounts for over $4 billion in real GDP.
- This industry contributed 2.4% to Tennessee's total real GDP in 2021.
- The sector has seen 3.2% average annual growth over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the agriculture, forestry, fishing, and hunting sector in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and economic contribution of Tennessee's natural resource-based industries, which are crucial to the state's rural economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, businesses, and analysts to assess the performance and outlook of Tennessee's natural resource industries and their role in the state's overall economic development.
Q: Are there update delays or limitations?
A: There may be update delays of several months due to the time required for data collection and analysis by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Tennessee (TNAGRRGSP), retrieved from FRED.