In 2023, the mining, quarrying, and oil and gas extraction industry added about 730 million chained 2017 U.S. dollars of value to New York's GDP. Total real GDP amounted to about 1.79 trillion chained 2017 U.S. dollars. In 2023, the per capita personal income in New York was 82,323 current U.S. dollars.
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The U.S. manufacturing sector plays a central role in the economy, accounting for 20% of U.S. capital investment, 60% of the nation's exports and 70% of business R&D. Overall, the sector's market size, measured in terms of revenue is worth roughly $6 trillion, making it a major industry to do business with. So which U.S. states are the biggest for manufacturing? This article will explore the nation's top manufacturing states, measured by number of employees, based on MNI's database of 400,000 U.S. manufacturing companies.
As of 2024, Duane Reade Holdings was the largest company headquartered in New York, employing about ******* people. Capgemini, Deloitte, and Ernst & Young rounded out the top four employers headquartered in New York in that year.
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The New York Data Center Market Report is Segmented by Data Center Size (Small, Medium, Large, Mega), Tier Standard (Tier I-II, Tier III, Tier IV), and Absorption (Utilized, Non-Utilized). The Market Forecasts are Provided in Terms of Value (MW).
In 2024, the finance, real estate, insurance, rental, and leasing industry added the most value to the GDP of the United States. In that year, this industry added 6.2 trillion U.S. dollars to the national GDP. Gross Domestic Product Gross domestic product is a measure of how much a country produces in a certain amount of time. Countries with a high GDP tend to have large economies, for example, the United States. However, GDP does not take into consideration the cost of living and inflation rates, so it is not a good measure of the standard of living. GDP per capita at purchasing power parity is thought to be more reflective of living conditions within a particular country. U.S. GDP California added the largest amount of value to the real GDP of the U.S. in 2022. California was followed by Texas and New York. In California, the professional and business services industry was the most valuable to GDP in 2022. In New York, the finance, insurance, real estate, rental, and leasing industry added the most value to the state GDP. While the business sector added the highest value to the U.S. real GDP in 2021, it was the information industry that had the biggest percentage change in value added to the GDP between 2010 and 2021.
This graph shows the GDP of the Los Angeles metro area in 2022, by industry. In 2022, its GDP amounted to about **** trillion U.S. dollars. About **** billion U.S. dollars were generated by the manufacturing industry. The overall quarterly GDP growth in the United States can be found here.
Gross domestic product of Los Angeles
With a population of over *** million inhabitants in 2011, Los Angeles is the second largest city in America, following only New York. The Los Angeles metro area also ranked second among U.S. metro areas in terms of gross metropolitan product, second again only to New York City metro area, which came in with a GMP of USD ***** trillion to Los Angeles’ *** billion USD in 2011. Chicago metro area ranked third with GMP of *** billion U.S. dollars. Washington metro area ranked fourth with *** billion U.S. dollars in 2011. Additional detailed statistics about GDP and GMP in the United States is available here.
Despite Los Angeles’ high GDP, L.A. did not do as well as some cities in terms of median household income. Los Angeles ranked 11th with a median household income of ****** U.S. dollars annually in 2013. This was lower than the median household income of the United States in 2013, which came in at ****** U.S. dollars annually.
Located in Southern California, Los Angeles is home to Hollywood, the famous epicenter of the U.S. film and television industries. The United States is one of the leading film markets worldwide, producing *** films in 2011, many of them produced by Hollywood-based studios. In 2012, movie ticket sales in North America generated over **** billion U.S. dollars in box office revenue. Famous Hollywood actresses earn millions annually, with the best paid, Angelina Jolie, earning ** million U.S. dollars between ********* and *********. Second on the list was Jennifer Lawrence with earnings of ** million U.S. dollars.
Working with the Westchester County Office of Economic Development, GIS staff created the Biosciences Ecosystem web map which includes over 150 businesses grouped into three main categories (1) Academic, Hospitals, and Nonprofits, (2) Life Science Companies, and (3) Related Industry Services.
Westchester is currently the largest bioscience cluster in New York State. We are well-positioned to expand the sector, given our highly educated workforce, desirable quality of life, and physical location within the NY Metro region. We are close to important transportation hubs, airports, and significant academic institutions. For more information on the Bioscience industry in the County, visit the Economic Development Catalyst website The Catalyst.
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The North American gypsum board market, encompassing the United States, Canada, and Mexico, is experiencing robust growth, driven by a surge in construction activities across residential, commercial, and industrial sectors. The market's expansion is fueled by several factors, including increasing urbanization, rising disposable incomes leading to higher demand for new housing, and government initiatives promoting infrastructure development. Furthermore, the inherent properties of gypsum board—its fire resistance, sound insulation, and ease of installation—make it a preferred material in diverse building applications. While rising raw material costs and fluctuating energy prices pose challenges, the market's resilience is evident in its projected Compound Annual Growth Rate (CAGR) exceeding 5.50%. This consistent growth is expected to continue throughout the forecast period (2025-2033), solidifying the gypsum board's position as a crucial building material in North America. Segmentation reveals a significant share held by the residential sector, reflecting the ongoing housing boom. However, the commercial and industrial sectors are also displaying significant growth potential, fueled by expanding office spaces, industrial facilities, and public infrastructure projects. Major players like American Gypsum Company LLC, Georgia-Pacific LLC, and Saint Gobain are leveraging their established distribution networks and technological advancements to cater to this growing demand, while smaller players are focusing on niche markets and specialized product offerings. The competitive landscape is characterized by both established multinational corporations and regional players. The market's future trajectory will depend on several factors, including economic growth, regulatory changes related to building codes and environmental sustainability, and the adoption of innovative gypsum board products with enhanced performance features. The continuous innovation in the industry, such as the development of lightweight and eco-friendly gypsum boards, is expected to further fuel market expansion. The increasing awareness regarding sustainable building practices will also drive demand for gypsum boards with recycled content and reduced environmental impact. This combination of factors suggests a sustained period of growth for the North American gypsum board market, promising significant opportunities for market participants throughout the forecast period. Recent developments include: October 2022: Saint-Gobain North America, through its building goods subsidiary business unit CertainTeed Gypsum, started a circular economy project in partnership with three New York partner firms. At its Buchanan, New York factory, the firm began reclaiming discarded gypsum wallboard and reusing it as feedstock for the new product., March 2022: Saint-Gobain invested roughly CAD 4 million (USD 2.93 million) through its building goods subsidiary CertainTeed Canada Inc. to install heat recovery equipment at its gypsum wallboard production in Vancouver. The heat exchanger will absorb and recycle some of the dryer's warm air, allowing the plant to maintain the dryer's temperature while using less energy and, eventually, lowering the facility's carbon dioxide emissions.. Key drivers for this market are: Increasing Demand From Residential Construction, Rising Repair Activities. Potential restraints include: Increasing Demand From Residential Construction, Rising Repair Activities. Notable trends are: Increasing Application in Residential Sector.
With a market capitalization of 3.12 trillion U.S. dollars as of May 2024, Microsoft was the world’s largest company that year. Rounding out the top five were some of the world’s most recognizable brands: Apple, NVIDIA, Google’s parent company Alphabet, and Amazon. Saudi Aramco led the ranking of the world's most profitable companies in 2023, with a pre-tax income of nearly 250 billion U.S. dollars. How are market value and market capitalization determined? Market value and market capitalization are two terms frequently used – and confused - when discussing the profitability and viability of companies. Strictly speaking, market capitalization (or market cap) is the worth of a company based on the total value of all their shares; an important metric when determining the comparative value of companies for trading opportunities. Accordingly, many stock exchanges such as the New York or London Stock Exchange release market capitalization data on their listed companies. On the other hand, market value technically refers to what a company is worth in a much broader context. It is determined by multiple factors, including profitability, corporate debt, and the market environment as a whole. In this sense it aims to estimate the overall value of a company, with share price only being one element. Market value is therefore useful for determining whether a company’s shares are over- or undervalued, and in arriving at a price if the company is to be sold. Such valuations are generally made on a case-by-case basis though, and not regularly reported. For this reason, market capitalization is often reported as market value. What are the top companies in the world? The answer to this question depends on the metric used. Although the largest company by market capitalization, Microsoft's global revenue did not manage to crack the top 20 companies. Rather, American multinational retailer Walmart was ranked as the largest company in the world by revenue. Walmart also had the highest number of employees in the world.
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The United States construction materials market, valued at approximately $500 billion in 2025, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 3% through 2033. This expansion is fueled by several key drivers. Significant investments in infrastructure development, spurred by government initiatives and a growing need to modernize aging infrastructure, are a primary catalyst. The burgeoning residential construction sector, driven by population growth and increasing urbanization, further contributes to market demand. Furthermore, the ongoing recovery of the commercial and industrial sectors is adding momentum. Material type segmentation reveals a strong preference for versatile materials like crushed stone and sand and gravel due to their widespread applications in various construction projects. The non-residential segment, encompassing commercial, infrastructure, and industrial projects, holds a significant market share, reflecting large-scale construction activities across the country. Major players like Cemex, Martin Marietta Materials, and Vulcan Materials Company are strategically positioning themselves to capitalize on this growth, investing in innovative production techniques and expanding their geographical reach. However, the market faces certain challenges. Fluctuations in raw material prices, particularly for aggregates and cement, can impact profitability. Supply chain disruptions, exacerbated by global events, remain a concern. Additionally, environmental regulations related to extraction and transportation of construction materials can add operational costs and complexity. Despite these restraints, the long-term outlook remains positive, driven by continued investment in infrastructure and a sustained demand for housing and commercial spaces. The market's segmentation by material type and end-user industry offers opportunities for specialized players to focus on niche applications and cater to specific project requirements, thus enhancing their competitiveness within the overall market landscape. Recent developments include: July 2024: CEMEX SAB de CV entered a joint venture with Couch Aggregates, a sand and gravel supplier, and Premier Holdings, a distributor of marine bulk products. This collaboration aims to bolster Cemex's aggregate reserves by focusing on the production, distribution, and sale of sand, gravel, and limestone in the Mid-South United States. As a result, Cemex is set to enhance its presence and offer improved, expedited services to this burgeoning region.July 2024: Heidelberg Materials acquired Carver Sand & Gravel, the largest aggregates producer in Albany, New York. This acquisition boosted the company’s operations, including crushed stone, sand and gravel, asphalt, and logistics, with a combined material capacity of around 3 million metric tons annually.. Key drivers for this market are: Rising Investments in the Infrastructure and Industrial Sectors, Growing Mining Activities and Increasing Popularity of Dimension Stones. Potential restraints include: Rising Investments in the Infrastructure and Industrial Sectors, Growing Mining Activities and Increasing Popularity of Dimension Stones. Notable trends are: Rising Investments in the Infrastructure and Industrial Sectors Driving the Market.
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The United States home construction market, valued at approximately $700 billion in 2025, is experiencing robust growth, projected to maintain a compound annual growth rate (CAGR) exceeding 3% through 2033. This expansion is fueled by several key factors. Firstly, a persistent housing shortage, particularly in desirable urban areas like New York City, Los Angeles, and San Francisco, continues to drive demand. Secondly, favorable demographic trends, including millennial household formation and an increasing preference for homeownership, are bolstering the sector. Furthermore, low interest rates (though this is subject to change depending on economic conditions) have historically made mortgages more accessible, stimulating construction activity. However, the market isn't without its challenges. Rising material costs, labor shortages, and supply chain disruptions continue to exert upward pressure on construction prices, potentially impacting affordability and slowing growth in certain segments. The market is segmented by dwelling type (apartments & condominiums, villas, other), construction type (new construction, renovation), and geographic location, with significant activity concentrated in major metropolitan areas. The dominance of large national builders like D.R. Horton, Lennar Corp, and PulteGroup highlights the industry's consolidation trend, while the growth of multi-family construction reflects shifting urban preferences. Looking ahead, the market's trajectory will depend on macroeconomic factors, interest rate fluctuations, government policies impacting housing affordability, and the ability of the industry to address supply-chain and labor challenges. Innovation in construction technologies, sustainable building practices, and prefabricated homes are also emerging trends expected to significantly influence market dynamics over the forecast period. The competitive landscape is characterized by a mix of large publicly traded companies and smaller regional builders. While established players dominate the market share, opportunities exist for smaller firms specializing in niche markets, such as sustainable or luxury home construction, or those focused on specific geographic areas. The ongoing expansion of the market signifies significant potential for investment and growth, despite the hurdles currently impacting the sector. Addressing supply chain disruptions and labor shortages will be crucial for sustained growth. Continued demand in key urban centers and evolving consumer preferences toward specific dwelling types will be critical factors determining the market's future trajectory. Recent developments include: June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office., December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.. Notable trends are: High-interest Rates are Negatively Impacting the Market.
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The US capital market exchange ecosystem is experiencing a significant growth trajectory, with a market size of XX million and a CAGR of 8.00%. Key drivers include increasing investor participation, the rise of digital investment platforms, and growing demand for alternative investment options. Trends such as the shift towards sustainable investing and the implementation of new technologies are shaping the ecosystem. Despite these drivers, restraints such as regulatory uncertainties and cybersecurity risks continue to challenge the market's growth. The ecosystem comprises various segments, including primary and secondary markets, debt and equity instruments, and retail and institutional investors. The New York Stock Exchange, NASDAQ, and Cboe Options Exchange are prominent companies operating within this ecosystem, facilitating trading and providing liquidity for investors. The market is segmented geographically, with North America, Europe, and Asia Pacific being key regions. The United States, United Kingdom, and China are leading markets within these regions, contributing significantly to the overall ecosystem's growth. The US capital market exchange ecosystem is a complex and interconnected network of exchanges, broker-dealers, clearinghouses, and other financial institutions that facilitate the buying and selling of securities. The ecosystem is highly concentrated, with a small number of large exchanges accounting for the majority of trading volume. The largest exchange in the US is the New York Stock Exchange (NYSE), followed by the Nasdaq Stock Market (Nasdaq) and the Cboe Global Markets (Cboe). These three exchanges account for over 80% of trading volume in the US equity markets. The US capital market exchange ecosystem is characterized by a high level of innovation. Exchanges are constantly developing new products and services to meet the needs of investors. For example, the NYSE recently launched a new electronic trading platform called NYSE Arca that is designed to provide faster and more efficient trading execution. The Nasdaq has also launched a new platform called Nasdaq Private Market that allows companies to raise capital from private investors. The US capital market exchange ecosystem is also highly regulated. The Securities and Exchange Commission (SEC) is the primary regulator of the securities markets in the US. The SEC regulates the exchanges, broker-dealers, and clearinghouses that operate in the US. The SEC's regulations are designed to protect investors and ensure the fair and orderly operation of the securities markets. The US capital market exchange ecosystem is facing a number of challenges and restraints. One challenge is the increasing competition from foreign exchanges. For example, the Shanghai Stock Exchange and the Hong Kong Stock Exchange have both become major players in the global equity markets. Another challenge is the rise of alternative trading systems (ATSs). ATSs are electronic trading platforms that are not regulated by the SEC. ATSs have become increasingly popular with investors because they offer lower trading costs and faster execution times than traditional exchanges. Despite these challenges, the US capital market exchange ecosystem is expected to continue to grow in the coming years. The US economy is expected to continue to grow, which will lead to increased demand for investment products. In addition, the US capital market exchange ecosystem is well-positioned to benefit from the growth of the global economy. Notable trends are: Increasing Capitalization in Equity Market Driving the Capital Market.
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Report Attribute/Metric | Details |
---|---|
Market Value in 2025 | USD 7.5 billion |
Revenue Forecast in 2034 | USD 11.9 billion |
Growth Rate | CAGR of 5.3% from 2025 to 2034 |
Base Year for Estimation | 2024 |
Industry Revenue 2024 | 7.1 billion |
Growth Opportunity | USD 4.8 billion |
Historical Data | 2019 - 2023 |
Forecast Period | 2025 - 2034 |
Market Size Units | Market Revenue in USD billion and Industry Statistics |
Market Size 2024 | 7.1 billion USD |
Market Size 2027 | 8.3 billion USD |
Market Size 2029 | 9.2 billion USD |
Market Size 2030 | 9.7 billion USD |
Market Size 2034 | 11.9 billion USD |
Market Size 2035 | 12.5 billion USD |
Report Coverage | Market Size for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends |
Segments Covered | Product Type, Application, Sales Channel, Price Range, Consumer Age Group |
Regional Scope | North America, Europe, Asia Pacific, Latin America and Middle East & Africa |
Country Scope | U.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa |
Top 5 Major Countries and Expected CAGR Forecast | U.S., Canada, UK, Australia, Germany - Expected CAGR 3.4% - 5.1% (2025 - 2034) |
Top 3 Emerging Countries and Expected Forecast | Brazil, South Africa, United Arab Emirates - Expected Forecast CAGR 6.1% - 7.3% (2025 - 2034) |
Top 2 Opportunistic Market Segments | Foodservice Providers and Commercial Application |
Top 2 Industry Transitions | Transition From Traditional to Nutritional Trends, Harnessing the Power of E-commerce |
Companies Profiled | Dunkin' Donuts, Einstein Bros. Bagels, New York Bagel Company, Bimbo Bakeries, Bagel Nash, Bruegger's Enterprises, Panera Bread, Krispy Kreme Doughnuts, Old World Bagel and Deli, Western Bagel, Great Canadian Bagel and Tim Hortons |
Customization | Free customization at segment, region, or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement (10% of report value) |
The NYSE U.S. 100 Index tracks the largest U.S. companies traded on the New York Stock Exchange. This statistic shows the leading 20 companies on the NYSE U.S. 100 Index by market capitalization. As of January 28, 2024 the multinational conglomerate company ****************** ranked as the first, with a market capitalization of over *** billion euros. This was followed by ********* and ***************, with market capitalizations amounting to *** billion and *** billion euros respectively. NYSE U.S. 100 Index vs. Nasdaq 100 Index The New York Stock Exchange and the Nasdaq are the largest two stock exchanges in the world, but they differ in the kinds of companies they list. The NYSE is known to list stable and long-lasting firms, commonly referred to as “blue-chip” companies. In contrast, the Nasdaq is renowned for listing the world’s biggest companies, mainly from the tech industry. Similar to the NYSE U.S. 100 Index, the Nasdaq 100 Index tracks the 100 largest non-financial companies listed on the Nasdaq exchange, including both U.S. and non-U.S. companies. The leader of the NYSE U.S. 100 index: Berkshire Hathaway Berkshire Hathaway, the leader of the NYSE U.S. 100 Index, was also among the world's largest companies by revenue in 2023. The company is a multinational conglomerate and holding company with insurance as its core business and interests in other sectors such as railroad, utilities and energy, finance. In fact, Berkshire was the world's biggest insurance company by revenue in 2023. As a holding company, it has significant stakes in some of the world’s largest companies, including Apple, Bank of America and Coca-Cola. With its diverse background in various businesses and industries, Berkshire Hathaway had a total revenue of *** billion U.S. dollars in 2023.
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The United States Data Center Market report segments the industry into Hotspot (Atlanta, Austin, Boston, Chicago, Dallas, Houston, Los Angeles, New Jersey, New York, Northern California, Northern Virginia, Northwest, Phoenix, Salt Lake City, Rest of United States), Data Center Size (Large, Massive, Medium, Mega, Small), Tier Type (Tier 1 and 2, Tier 3, Tier 4), and Absorption (Non-Utilized, Utilized).
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The polystyrene foam product manufacturing industry, which produces expanded and extruded foam materials for construction insulation, packaging, and food service applications, faces significant performance challenges amid regulatory pressures and evolving market dynamics. Current industry revenue stands at $10.4 billion in 2025, reflecting a sharp -7.2% decline from the previous year as state-level foam bans and environmental regulations eliminate key market segments. The industry has experienced a negative CAGR of -1.0% over the current period, driven by regulatory restrictions in major markets like California and New York, increased competition from biodegradable alternatives, and volatile raw material costs that compress profit margins. Manufacturing operations continue to face headwinds from rising styrene monomer prices and compliance costs associated with environmental regulations, while customer demand shifts toward sustainable packaging solutions challenge traditional foam applications. The industry structure reflects moderate concentration with approximately 350 establishments nationwide, characterized by a mix of large integrated manufacturers and smaller regional producers serving specialized market segments. Key players, including major chemical companies, maintain significant market share through economies of scale and established customer relationships, while smaller manufacturers compete by focusing on niche applications and regional markets. Barriers to entry include substantial capital requirements for manufacturing equipment, complex environmental permitting processes, and the need for technical expertise in foam chemistry and production processes. The industry's supply chain depends heavily on petrochemical feedstocks, creating vulnerability to commodity price volatility, while customer concentration among large food service chains, construction companies, and packaging converters creates significant buyer power that pressures profit margins across the sector. Looking forward, the industry outlook remains challenging with projected revenue declining to $9.8 billion by 2030, representing a -1.3% CAGR as regulatory restrictions continue expanding and sustainable alternatives gain market acceptance. The transition away from traditional polystyrene foam applications will likely accelerate as more states implement extended producer responsibility laws and corporate sustainability commitments drive purchasing decisions toward environmentally responsible materials. However, opportunities exist in specialized applications such as high-performance building insulation, protective packaging for electronics, and industrial uses where foam's unique properties maintain competitive advantages. Success will depend on manufacturers' ability to develop sustainable product alternatives, optimize operations for cost competitiveness, and strategically position facilities in favorable regulatory environments while building capabilities in emerging applications that offer profit potential despite overall market contraction.
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TABLE 1. Most significant import and export items, 1921, 1923, 1926; TABLE 2. Tariffs for the most significant commercial items 1914, 1921, 1923, 1926; TABLE 3. Development of industries in 1920s; TABLE 4. Governments and elections; TABLE 5. Exchange rate of the Czechoslovak crown in New York and Zurich, monthly averages
The value of the DJIA index amounted to ****** at the end of June 2025, up from ********* at the end of March 2020. Global panic about the coronavirus epidemic caused the drop in March 2020, which was the worst drop since the collapse of Lehman Brothers in 2008. Dow Jones Industrial Average index – additional information The Dow Jones Industrial Average index is a price-weighted average of 30 of the largest American publicly traded companies on New York Stock Exchange and NASDAQ, and includes companies like Goldman Sachs, IBM and Walt Disney. This index is considered to be a barometer of the state of the American economy. DJIA index was created in 1986 by Charles Dow. Along with the NASDAQ 100 and S&P 500 indices, it is amongst the most well-known and used stock indexes in the world. The year that the 2018 financial crisis unfolded was one of the worst years of the Dow. It was also in 2008 that some of the largest ever recorded losses of the Dow Jones Index based on single-day points were registered. On September 29, 2008, for instance, the Dow had a loss of ****** points, one of the largest single-day losses of all times. The best years in the history of the index still are 1915, when the index value increased by ***** percent in one year, and 1933, year when the index registered a growth of ***** percent.
The New York Stock Exchange (NYSE) is the largest stock exchange in the world, with an equity market capitalization of almost ** trillion U.S. dollars as of June 2025. The following three exchanges were the NASDAQ, PINK Exchange, and the Frankfurt Exchange. What is a stock exchange? A stock exchange is a marketplace where stockbrokers, traders, buyers, and sellers can trade in equities products. The largest exchanges have thousands of listed companies. These companies sell shares of their business, giving the general public the opportunity to invest in them. The oldest stock exchange worldwide is the Frankfurt Stock Exchange, founded in the late sixteenth century. Other functions of a stock exchange Since these are publicly traded companies, every firm listed on a stock exchange has had an initial public offering (IPO). The largest IPOs can raise billions of dollars in equity for the firm involved. Related to stock exchanges are derivatives exchanges, where stock options, futures contracts, and other derivatives can be traded.
Prior to the American Civil War, New York, Pennsylvania, and Ohio were the most populous states in the Union, each with between two and four million inhabitants. Industrialization in the north was one of the key drivers of population growth during this period, through both internal and external migration, and Illinois saw the largest population growth during the 1860s largely due to the expansion of industry around Chicago. The gradual industrialization of the north in the early 1800s also contributed to the decline of slavery in the Union states, and the economic differences between the Union and Confederacy was a key factor in both the build-up to the Civil War, as well as the Union's eventual victory in 1865.
In 2023, the mining, quarrying, and oil and gas extraction industry added about 730 million chained 2017 U.S. dollars of value to New York's GDP. Total real GDP amounted to about 1.79 trillion chained 2017 U.S. dollars. In 2023, the per capita personal income in New York was 82,323 current U.S. dollars.