Gross Domestic Product: Retail Trade (44-45) in Tennessee
TNRETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43,842.30
Year-over-Year Change
19.69%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Retail Trade (44-45) in Tennessee measures the economic output of the retail trade sector in the state. It is a key indicator of consumer spending and economic activity.
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 total value of goods and services produced by the retail trade industry in Tennessee, which includes a wide range of businesses from motor vehicle dealers to clothing stores. It is used by economists and policymakers to analyze trends in consumer behavior and the overall health of the state's economy.
Methodology
The data is compiled by the U.S. Bureau of Economic Analysis using a variety of government and private sector sources.
Historical Context
Retail trade data is closely monitored for its implications on monetary and fiscal policy decisions.
Key Facts
- Tennessee's retail trade sector accounts for 11% of the state's total GDP.
- Retail trade GDP in Tennessee grew by 3.2% in 2021.
- The COVID-19 pandemic caused a 5.1% decline in Tennessee's retail trade GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or GDP generated by the retail trade industry in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: Retail trade data is a key indicator of consumer spending and overall economic activity, making it highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Bureau of Economic Analysis using a variety of government and private sector sources.
Q: How is this trend used in economic policy?
A: Retail trade data is closely monitored by central banks and governments for its implications on monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Tennessee (TNRETAILNQGSP), retrieved from FRED.