Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Connecticut
CTTRADEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.87
Year-over-Year Change
1.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Connecticut measures the real output of the trade sector in Connecticut's economy. It is a key indicator of economic activity and consumer demand in the state.
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 inflation-adjusted volume of trade-related economic output in Connecticut, including wholesale and retail trade. It is used by economists and policymakers to assess the health and trajectory of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Trends in this index help inform fiscal and monetary policy decisions at the state and national level.
Key Facts
- Connecticut's trade sector accounts for over 20% of its GDP.
- The index is calculated using a chain-weighted formula.
- Index values are referenced to a 2012 base year.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Connecticut measures the real, inflation-adjusted output of the trade sector in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of economic activity and consumer demand in Connecticut. Trends in the index help inform policy decisions and economic analysis at the state and national level.
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 methodology.
Q: How is this trend used in economic policy?
A: Trends in this index help guide fiscal and monetary policy decisions by providing insights into the state of Connecticut's economy and trade sector.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Bureau of Economic Analysis, with a typical 1-2 month release lag.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Connecticut (CTTRADEQGSP), retrieved from FRED.