Others titles

  • Agricultural Commodity Prices 2016
  • US Long Range Weather Forecast 2016

Keywords

  • US Agricultural Projections
  • Projections for Major Commodities
  • USDA Agricultural Projections
  • US Macroeconomic Conditions
  • US Agricultural Supply and Demand Report

US Macroeconomic Assumptions

This dataset shows the long-run projections for the US agricultural sector to 2029 includes assumptions for the US and international macroeconomic conditions and projections for major commodities, farm income, and the US agricultural trade value. Values are from the publication United States Department of Agriculture (USDA) Agricultural Projections to 2029, October 2019.

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Description

United States Department of Agriculture (USDA) long-term agricultural projections presented in this report are a departmental consensus on a longrun scenario for the agricultural sector. These projections provide a starting point for discussion of alternative outcomes for the sector.
The projections in this report were prepared during October through December 2015, with the Agricultural Act of 2014 assumed to remain in effect through the projection period. The scenario presented in this report is not a USDA forecast about the future. Instead, it is a conditional, longrun scenario about what would be expected to happen under a continuation of current farm legislation and other specific assumptions.

Critical long-term assumptions are made for the US and international macroeconomic conditions, US and foreign agricultural and trade policies, and growth rates of agricultural productivity in the United States and abroad. The report assumes that there are no domestic or external shocks that would affect global agricultural supply and demand. Normal weather is assumed. Changes in any of these assumptions can significantly affect the projections, and actual conditions that emerge will alter the outcomes.
The report uses as a starting point the short-term projections from the November 2015 World Agricultural Supply and Demand Estimates report. The macroeconomic assumptions were completed in October 2015.

The projections analysis was conducted by interagency committees in USDA and reflect a composite of model results and judgment-based analyses. The Economic Research Service had the lead role in preparing the departmental report. The projections and the report were reviewed and cleared by the Interagency Agricultural Projections Committee, chaired by the World Agricultural Outlook Board. USDA participants in the projections analysis and review include the World Agricultural Outlook Board; the Economic Research Service; the Farm Service Agency; the Foreign Agricultural Service; the Agricultural Marketing Service; the Office of the Chief Economist; the Office of Budget and Program Analysis; the Risk Management Agency; the Natural Resources Conservation Service; and the National Institute of Food and Agriculture.

About this Dataset

Data Info

Date Created

2016-02-01

Last Modified

2019-10-01

Version

2019-10-01

Update Frequency

Annual

Temporal Coverage

2018-2029

Spatial Coverage

United States

Source

John Snow Labs; United States Department of Agriculture (USDA);

Source License URL

Source License Requirements

N/A

Source Citation

United States Department of Agriculture (USDA), Release 2016.

Keywords

US Agricultural Projections, Projections for Major Commodities, USDA Agricultural Projections, US Macroeconomic Conditions, US Agricultural Supply and Demand Report

Other Titles

Agricultural Commodity Prices 2016, US Long Range Weather Forecast 2016

Data Fields

Name Description Type Constraints
ComponentComponent of a liststring-
ItemList of agricultural sectorstring-
Year_2018Project amount in year 2018numberlevel : Ratio
Year_2019Project amount in year 2019numberlevel : Ratio
Year_2020Project amount in year 2020numberlevel : Ratio
Year_2021Project amount in year 2021numberlevel : Ratio
Year_2022Project amount in year 2022numberlevel : Ratio
Year_2023Project amount in year 2023numberlevel : Ratio
Year_2024Project amount in year 2024numberlevel : Ratio
Year_2025Project amount in year 2025numberlevel : Ratio
Year_2026Project amount in year 2026numberlevel : Ratio
Year_2027Project amount in year 2027numberlevel : Ratio
Year_2028Project amount in year 2028numberlevel : Ratio
Year_2029Project amount in year 2029numberlevel : Ratio

Data Preview

ComponentItemYear 2018Year 2019Year 2020Year 2021Year 2022Year 2023Year 2024Year 2025Year 2026Year 2027Year 2028Year 2029
Gross Domestic Product Nominal, billion dollars20494.121447.270822291.8643323101.5048423964.1150324883.3065925868.41463000000326924.5076327982.6471329083.894530229.303731420.502060000003
Gross Domestic Product Real, billion 2010 chain-weighted dollars17844.27844000000218290.385418637.9027218936.1091719258.0230219585.4094119941.9964820329.2262720713.89181999999721106.9410321508.033721917.222319999997
Gross Domestic Product percent change2.92.51.91.61.71.71.8206770971.9417804761.892181.8975151.90028800000000021.9024919999999998
Disposable personal income Nominal, billion dollars15521.816220.28116885.3125217526.954418228.0325718993.60994000000219791.3415620622.577921468.103622348.2958523264.57596999999824218.423590000002
Disposable personal income percent change4.94.54.13.84.04.24.24.24.14.14.14.1
Nominal per capita, dollars47404.049112.33266999999650761.6741352319.5792154034.2814555918.6549757875.6811759908.60258999999561960.4064864091.24262000000566305.0228399999968605.87746
Nominal per capita, dollars percent change4.33.6037732563.3583040473.0690577263.27736243899999963.487366673.4997733673.5125658713.42489025399999973.4390286643.45410719600000033.47010606
Real, billion 2010 chain-weighted dollars13783.41336999999814114.2152914410.61380999999914670.0048614963.4049515277.6364615598.4668215926.03463000000216260.4813516601.9514616950.5924417306.55489
Real, billion 2010 chain-weighted dollars percent change2.82.42.11.82.02.12.12.12.12.12.12.1
Real per capita, 2010 chain-wighted dollars42036.042735.51343999999543322.0813243791.32071999999644356.78023000000444978.5419745614.4870246265.1412346930.369547611.6705548309.9034549025.956589999994