Details
- Measures the market value, in dollars, of annual economic output
- Measures production regardless of the various uses
- Includes the value of goods that are not used but which are added to inventories
- Measures market price values of current production, not sales
- Includes the value of a limited number of nonmarket goods and services, like military goods and educational services provided by the government
- Provides data in both tabular and spatial formats
- Provides GDP totals and breakdown by 64 industries
- Standard Industrial Classification (SIC) is an older classification system that provides greater detail on manufacturing. North American Industrial Classification System (NAICS) replaced SIC in 1997 and provides greater detail on the service sectors.
- NAICS industry detail is based on the 2002 NAICS. SIC industry detail is based on the 1987 SIC for 1987 to1997 and the 1972 SIC for 1963to1986.
Notes and Limitations: Spatial data are limited to coastal regions. For 1997 there is a discontinuity in the time series because of the switch from SIC to NAICS. This discontinuity occurs for many reasons, including differences in methods and source data. In addition, on the state level NAICS estimates are consistent with U.S. GDP, while SIC estimates are consistent with U.S. gross domestic income (GDI). Users are strongly cautioned against combining the two data sets to create a single time series.