Chain-Type Quantity Index for Real GDP: Farms (111-112) in Arkansas
ARFARMQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.01
Year-over-Year Change
84.41%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Farms (111-112) in Arkansas measures the inflation-adjusted output of the farm sector in the state. It is a key indicator of agricultural productivity and an important statistic for economists and policymakers.
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 comprehensive measure of the real value-added output from farms in Arkansas, including crop and animal production. It is used to track the economic performance and growth of the state's agricultural industry over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
The index is relevant for understanding trends in Arkansas' agricultural economy and informing policy decisions around farming, trade, and rural development.
Key Facts
- Arkansas is a major agricultural state, contributing over $16 billion annually to the economy.
- Farms account for 111-112 in the North American Industry Classification System (NAICS).
- This index tracks changes in the real, inflation-adjusted value of farm output in Arkansas.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Farms (111-112) in Arkansas measures the inflation-adjusted output of the state's farm sector, including crop and animal production.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of agricultural productivity and economic performance in Arkansas, providing insights for policymakers, businesses, and researchers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: The index is relevant for understanding trends in Arkansas' agricultural economy and informing policy decisions around farming, trade, and rural development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve with typical release delays of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Farms (111-112) in Arkansas (ARFARMQGSP), retrieved from FRED.