Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Alabama
ALCHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.01
Year-over-Year Change
-8.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Alabama measures the volume of economic output from the chemical manufacturing sector in Alabama, adjusting for inflation.
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 index provides a detailed look at the real production activity of Alabama's chemical manufacturing industry, which is a key component of the state's economy. Economists and policymakers use this data to assess the health and trends within this crucial industrial sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to track real changes in output.
Historical Context
This index offers insight into the performance of Alabama's chemical manufacturing industry, which has implications for the state's economic growth, employment, and industrial policy.
Key Facts
- Alabama is a major hub for the chemical manufacturing industry.
- The chemical sector accounts for over 10% of Alabama's total GDP.
- This index tracks volume changes, not just monetary values.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of economic output from Alabama's chemical manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the performance and health of a critical industry within Alabama's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this index using a chain-weighted formula to track real changes in output.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this index to assess the state's industrial production, economic growth, and the efficacy of related policies.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Alabama (ALCHEMMANQGSP), retrieved from FRED.