Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Hawaii
HIFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.85
Year-over-Year Change
11.96%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Hawaii measures the real economic output of the finance and insurance sector in the state of Hawaii. This metric is important for economists and policymakers to understand Hawaii's economic trends and growth drivers.
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
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Hawaii tracks the volume of goods and services produced by the finance and insurance industry in the state. This index provides a gauge of the sector's real economic contribution, adjusting for price changes over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach.
Historical Context
This economic indicator is closely watched by analysts and policymakers to assess the health and performance of Hawaii's finance and insurance industries.
Key Facts
- The index is referenced to 2012 as the base year.
- Hawaii's finance and insurance sector accounts for over 7% of the state's GDP.
- The index has shown steady growth since 2010.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Hawaii measures the real, inflation-adjusted output of the finance and insurance industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and contribution of Hawaii's finance and insurance sector, which is a key 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 a chained-dollar methodology to account for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the health and growth of Hawaii's finance and insurance industries, which inform economic development strategies and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Hawaii (HIFININSQGSP), retrieved from FRED.