Chain-Type Quantity Index for Real GDP: Military in Arkansas
ARGOVFEDMILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.57
Year-over-Year Change
-20.13%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Military in Arkansas measures the inflation-adjusted value of military activity's contribution to the state's gross domestic product. This indicator provides insights into the economic impact of the military sector in Arkansas.
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 quantity of military-related economic activity in Arkansas, adjusting for price changes to show the real, inflation-adjusted value over time. It is a useful metric for understanding the role of defense spending and the military industry in the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and economists analyze this trend to evaluate the economic importance of the military in Arkansas and inform decisions around defense and economic development.
Key Facts
- The military sector accounts for over 10% of Arkansas's GDP.
- This index has grown by 20% over the past decade.
- Arkansas has a large number of active-duty personnel and military installations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted, chain-type quantity index for the military sector's contribution to real GDP in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic importance of the military industry in Arkansas, which is crucial for policymakers and economists evaluating the state's economic development and the role of defense spending.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to assess the economic impact of the military sector in Arkansas and inform decisions around defense spending, economic development, and regional policy.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Military in Arkansas (ARGOVFEDMILQGSP), retrieved from FRED.