Chain-Type Quantity Index for Real GDP: All Industry Total in Utah
Annual, Not Seasonally Adjusted
UTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.98
Year-over-Year Change
67.62%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted trend measures the gross state product (GSP) in the United States. GSP is a key indicator of economic growth and activity at the state level.
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 trend represents the total value of goods and services produced within a state's economy over the course of a year, without adjusting for seasonal fluctuations. It provides important insights into regional economic dynamics and performance.
Methodology
The U.S. Bureau of Economic Analysis collects and calculates this data based on surveys and economic modeling.
Historical Context
Policymakers and analysts use this data to inform decisions related to economic development, tax policy, and public investment.
Key Facts
- The U.S. state with the highest GSP is California.
- GSP grew by an average of 3.8% annually from 2010 to 2020.
- The COVID-19 pandemic caused a 3.4% decline in national GSP in 2020.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted trend measures the total value of goods and services produced within a U.S. state's economy over the course of a year.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into regional economic performance and growth, which is crucial for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to inform decisions related to economic development, tax policy, and public investment at the state level.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data, as it requires comprehensive economic surveys and modeling.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (UTQGSP), retrieved from FRED.