Gross Domestic Product: Private Industries in Wisconsin
WIPINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
414,731.60
Year-over-Year Change
18.80%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) for Private Industries in Wisconsin measures the total economic output of the private sector in the state. It is a key indicator of Wisconsin's economic health and growth.
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 tracks the value added by private industries in Wisconsin, excluding government activities. It provides insights into the productivity and competitiveness of the state's private sector, which is crucial for understanding regional economic trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private sources.
Historical Context
Policymakers and analysts use this metric to evaluate Wisconsin's economic performance and make informed decisions.
Key Facts
- Wisconsin's private industries account for over 80% of the state's GDP.
- The GDP of private industries in Wisconsin has grown by over 20% since 2010.
- Manufacturing is the largest private industry sector in Wisconsin, contributing nearly 20% to the state's GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Private Industries in Wisconsin measures the total economic output of the private sector in the state, excluding government activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and competitiveness of Wisconsin's private sector, which is crucial for understanding the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Wisconsin's economic performance and make informed decisions regarding economic development, tax policy, and other initiatives.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with some delay due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Wisconsin (WIPINQGSP), retrieved from FRED.