Real Gross Domestic Product: Trade (42, 44-45) in Tennessee
TNTRADERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,680.60
Year-over-Year Change
38.78%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Trade (42, 44-45) in Tennessee' metric measures the inflation-adjusted economic output of the trade industry in Tennessee. It is a key indicator of the health and performance of the state's economy.
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 real, or inflation-adjusted, value added by the trade industry (retail and wholesale) to Tennessee's gross domestic product. It provides insight into the relative strength and productivity of this important economic sector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using information from business surveys and government statistical programs.
Historical Context
Policymakers and analysts monitor this metric to assess the trade industry's contribution to Tennessee's overall economic activity and growth.
Key Facts
- Tennessee's trade industry accounts for over 18% of the state's GDP.
- Real trade GDP in Tennessee has grown by an average of 2.5% annually since 2010.
- The trade sector is the second-largest contributor to Tennessee's economic output.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted value added by the trade industry (including retail and wholesale) to Tennessee's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: The trade industry is a key driver of economic activity in Tennessee, so this metric provides important insights into the state's overall economic performance and productivity.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this data using information from business surveys and government statistical programs.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to assess the contribution of Tennessee's trade sector to the state's overall economic growth and development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Trade (42, 44-45) in Tennessee (TNTRADERGSP), retrieved from FRED.