Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Utah
Quarterly, Seasonally Adjusted Annual Rate
UTAGRRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,478.80
Year-over-Year Change
38.62%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (UTAGRRQGSP) measures the gross domestic product (GDP) of the U.S. agriculture sector on an annualized basis. This key economic indicator provides insight into the health and productivity of the agricultural 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 Quarterly, Seasonally Adjusted Annual Rate (UTAGRRQGSP) represents the total economic output of the U.S. agriculture sector, including crop and livestock production, as well as related services. It is a widely used metric for tracking the performance and contribution of the agricultural industry to the broader economy.
Methodology
The Bureau of Economic Analysis (BEA) calculates this series using data collected through surveys and administrative sources.
Historical Context
Policymakers, investors, and industry analysts closely monitor the UTAGRRQGSP to understand the economic drivers and outlook for the U.S. agricultural sector.
Key Facts
- The U.S. agriculture sector contributes over $1 trillion to the economy annually.
- Crop production accounts for approximately 50% of total agricultural output.
- The agriculture industry employs nearly 20 million people in the United States.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate (UTAGRRQGSP) measures the total economic output of the U.S. agriculture sector, including crop and livestock production as well as related services.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insight into the health and performance of the U.S. agriculture industry, which is a critical component of the broader economy. It is closely monitored by policymakers, investors, and industry analysts.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis (BEA) calculates this series using data collected through surveys and administrative sources.
Q: How is this trend used in economic policy?
A: Policymakers use the UTAGRRQGSP to assess the overall contribution of the agriculture sector to the U.S. economy and to inform policy decisions that impact the industry.
Q: Are there update delays or limitations?
A: The UTAGRRQGSP data is published quarterly, with a delay of several weeks following the end of each quarter.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (UTAGRRQGSP), retrieved from FRED.