Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Hawaii
HIINSCRAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.42
Year-over-Year Change
40.43%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Hawaii measures the volume of output from the insurance industry in the state. This metric is important for economists and policymakers to gauge the health and productivity of a key service 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
This index tracks the inflation-adjusted value of goods and services produced by insurance companies and related businesses in Hawaii. It is a useful indicator of economic activity and growth within the state's insurance industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index.
Historical Context
Trends in this index provide insights into the insurance market and can inform policy decisions.
Key Facts
- Hawaii's insurance industry accounts for about 3% of the state's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Insurance is a key service sector in Hawaii's economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the volume of output from the insurance industry in Hawaii, tracking the inflation-adjusted value of goods and services produced by insurance companies and related businesses.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the health and productivity of Hawaii's insurance sector, which is a key part 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 chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts can use this index to monitor the insurance industry's contribution to Hawaii's economic growth and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions by the statistical agency.
Related Trends
Average Weekly Hours of Production Employees: Leisure and Hospitality: Accommodation and Food Services in Hawaii
SMU15000007072000007
Number of Identified Exporters to Poland from Hawaii
HIPOLA475SCEN
Gross Domestic Product: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Hawaii
HIMISCPRONGSP
Chain-Type Quantity Index for Real GDP: Educational Services (61) in Hawaii
HIEDCATQQGSP
Coefficient for Residential Carbon Dioxide Emissions, Distillate Fuel for Hawaii
EMISSCO2CDFRCBHIA
Chain-Type Quantity Index for Real GDP: Military in Hawaii
HIGOVFEDMILQGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in Hawaii (HIINSCRAQGSP), retrieved from FRED.