Gross Domestic Product: All Industry Total in Washington
WANGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
854,683.30
Year-over-Year Change
114.55%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: All Industry Total in Washington measures the total economic output of all industries within the state of Washington. This metric is a key indicator of the overall health and growth 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
Gross Domestic Product (GDP) is the standard measure of a region's economic activity, representing the total value of all goods and services produced. The All Industry Total GDP for Washington provides a comprehensive view of the state's economic performance and is widely used by policymakers, analysts, and businesses to assess growth, make informed decisions, and develop economic strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
The Washington GDP All Industry Total is a valuable indicator for understanding the state's economic trends and informing policy decisions that can impact businesses, consumers, and the overall standard of living.
Key Facts
- Washington's GDP reached $591 billion in 2021.
- The state's GDP has grown by an average of 3.5% annually over the past decade.
- The largest contributing sectors to Washington's GDP are technology, aerospace, and agriculture.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: All Industry Total in Washington measures the total economic output of all industries within the state of Washington, providing a comprehensive view of the state's economic performance.
Q: Why is this trend relevant for users or analysts?
A: The Washington GDP All Industry Total is a key indicator of the state's economic health and growth, and is widely used by policymakers, analysts, and businesses to assess economic trends, make informed decisions, and develop effective strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Q: How is this trend used in economic policy?
A: The Washington GDP All Industry Total is a valuable indicator for understanding the state's economic trends and informing policy decisions that can impact businesses, consumers, and the overall standard of living.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a short delay, and may be subject to revisions as more complete information becomes available.
Related Trends
Housing Inventory: Median Home Size in Square Feet Month-Over-Month in Washington
MEDSQUFEEMMWA
Coefficient for Electric Power Carbon Dioxide Emissions, Natural Gas (Pipeline) for Washington
EMISSCO2CNGEIBWAA
Value-Added Output for Private Nonfarm in Washington
IPUZNT300530000
Real Estate, Rental and Leasing Wages and Salaries in Washington
WAWREA
Chain-Type Quantity Index for Real GDP: Miscellaneous Manufacturing (339) in Washington
WAMISCMANQGSP
Coefficient for Industrial Carbon Dioxide Emissions, Asphalt and Road Oil for Washington
EMISSCO2CARICBWAA
Citation
U.S. Federal Reserve, Gross Domestic Product: All Industry Total in Washington (WANGSP), retrieved from FRED.