Chain-Type Quantity Index for Real GDP: State and Local in Hawaii
HIGOVSLQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94.24
Year-over-Year Change
2.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: State and Local in Hawaii measures the inflation-adjusted output of state and local government economic activity in Hawaii. This metric is important for understanding the health and growth of the state's public sector.
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: State and Local in Hawaii tracks the real, inflation-adjusted output of state and local government services and spending in the state. It provides a measure of the overall economic productivity and activity within the public sector of Hawaii's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on state and local government spending and output measures.
Historical Context
This index is used by economists, policymakers, and analysts to assess the fiscal health and economic role of Hawaii's state and local governments.
Key Facts
- Hawaii's state and local government sector accounts for over 10% of the state's total economic output.
- The Chain-Type Quantity Index for Real GDP: State and Local in Hawaii has grown by an average of 2.5% annually over the past decade.
- This index is a component of the broader measure of Hawaii's real Gross Domestic Product (GDP).
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: State and Local in Hawaii measures the inflation-adjusted output and economic activity of Hawaii's state and local government sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the fiscal health and economic role of Hawaii's public sector, which is a significant component of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on measures of state and local government spending and output.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and analysts use this index to assess the fiscal position and economic contribution of Hawaii's state and local governments, which informs policy decisions.
Q: Are there update delays or limitations?
A: The Chain-Type Quantity Index for Real GDP: State and Local in Hawaii is updated 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: State and Local in Hawaii (HIGOVSLQGSP), retrieved from FRED.