Gross Domestic Product: Retail Trade (44-45) in Wisconsin
WIRETAILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,508.90
Year-over-Year Change
94.93%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) of the retail trade sector in the state of Wisconsin. It provides valuable insights into the overall health and performance of Wisconsin's retail 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 Gross Domestic Product: Retail Trade (44-45) in Wisconsin series represents the total output or value added by the retail trade sector, which includes the sale of merchandise and the provision of services, within the state's economy. This data is used by economists and policymakers to analyze regional economic trends and inform decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and administrative records.
Historical Context
This economic trend is relevant for understanding the state of Wisconsin's retail industry and its contribution to the overall economy, which can inform policy decisions and business strategies.
Key Facts
- Wisconsin's retail trade sector accounts for a significant portion of the state's GDP.
- The retail trade industry is a major employer in Wisconsin, providing jobs for thousands of residents.
- Trends in Wisconsin's retail GDP can indicate the overall health and consumer confidence in the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the retail trade sector in the state of Wisconsin, providing insights into the performance and contribution of the retail industry to the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the health and performance of Wisconsin's retail industry, which is a key driver of the state's economy. It can inform business strategies, policy decisions, and economic analysis.
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 sources, including business surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze regional economic trends and inform decision-making related to the retail industry and its impact on the overall Wisconsin economy.
Q: Are there update delays or limitations?
A: There may be some update delays or limitations in the data, as it is collected and reported by government agencies. Users should check the latest release dates and potential caveats when using this economic trend.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Wisconsin (WIRETAILNGSP), retrieved from FRED.