Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Hawaii
HIACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.82
Year-over-Year Change
18.72%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Hawaii measures the volume of economic activity in Hawaii's hospitality industry. This metric is critical for understanding the state's tourism-driven economy.
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 Hawaii's accommodation and food services sector, a key component of the state's GDP. It provides insights into the overall health and trends within the vital tourism industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using chain-type quantity indexes.
Historical Context
Policymakers and analysts use this index to monitor the performance of Hawaii's economy and guide decisions related to the tourism industry.
Key Facts
- Hawaii's tourism industry accounts for over 20% of the state's GDP.
- The accommodation and food services sector is the largest private-sector employer in Hawaii.
- The Chain-Type Quantity Index tracks real output, adjusting for inflation.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) output of Hawaii's accommodation and food services sector, a key component of the state's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides critical insights into the performance and health of Hawaii's vital tourism industry, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using chain-type quantity indexes.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the state's economic conditions and guide decisions related to the tourism industry in Hawaii.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and any revisions made by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Hawaii (HIACCFDQGSP), retrieved from FRED.