Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Alabama
ALOTHSERVEQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.87
Year-over-Year Change
-9.70%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) in Alabama measures the real output of this sector in the state's economy. It provides insight into the growth and performance of this important service 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
This index tracks the real, inflation-adjusted output of Alabama's other services sector, excluding government and government enterprises. It is a key indicator for analyzing the state's economic structure and development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to measure real GDP.
Historical Context
Policymakers and analysts use this index to assess the health and trends within Alabama's service economy.
Key Facts
- Alabama's other services sector accounts for over 15% of the state's real GDP.
- This index has shown steady growth over the past decade, outpacing the overall state economy.
- The other services sector includes industries like professional, scientific, and technical services.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Alabama's other services sector, excluding government and government enterprises.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the growth and performance of this important service industry within the Alabama economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to measure real GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and trends within Alabama's service economy, which is a key driver of the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a several-month delay in the most recent figures.
Related Trends
Real Median Household Income in Alabama
MEHOINUSALA672N
Average Weekly Earnings of All Employees: Goods Producing in Alabama
SMU01000000600000011
90% Confidence Interval Lower Bound of Estimate of Percent of People of All Ages in Poverty for Alabama
PPCILBAAAL01000A156NCEN
Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in Alabama
MEDLISPRIPERSQUFEEMMAL
Dividends, Interest and Rent in Alabama
ALODIV
Transportation and Warehousing Earnings in Alabama
ALETRA
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Alabama (ALOTHSERVEQQGSP), retrieved from FRED.