Real Gross Domestic Product: All Industry Total in Utah
UTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
239,750.90
Year-over-Year Change
11.09%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: All Industry Total in Utah measure tracks the total economic output of all industries in the state, adjusted for inflation. This metric is a key indicator of Utah's overall economic health and performance.
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: All Industry Total in Utah represents the total economic output, or value added, of all industries and sectors operating within the state. It is a comprehensive measure of the state's economic activity and is widely used by economists, policymakers, and analysts to assess Utah's economic performance and trends over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is closely monitored by government agencies, businesses, and investors to inform policy decisions, investment strategies, and economic forecasting.
Key Facts
- Utah's real GDP grew by 3.5% in 2021.
- The state's economy is heavily influenced by the technology and financial services sectors.
- Real GDP per capita in Utah is consistently higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: All Industry Total in Utah measures the total economic output of all industries and sectors operating within the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Utah's overall economic health and performance, and is widely used by economists, policymakers, and analysts to assess the state's economic trends and make informed decisions.
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 economic indicator is closely monitored by government agencies, businesses, and investors to inform policy decisions, investment strategies, and economic forecasting.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some potential for minor delays or revisions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: All Industry Total in Utah (UTRQGSP), retrieved from FRED.