Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Hawaii
HIOTHSERVEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.77
Year-over-Year Change
0.32%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) in Hawaii measures the real output of the other services sector in the state's economy, excluding government and government enterprises.
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 provides a measure of the volume of output in the other services sector of Hawaii's economy, which includes industries like personal services, repair and maintenance, and religious organizations. It is used by economists and policymakers to analyze the performance and growth of this important component of the state's GDP.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This index is a key indicator of economic activity in Hawaii and is monitored by policymakers and market analysts.
Key Facts
- Hawaii's other services sector accounts for around 11% of the state's total GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic led to a 7.5% decline in the index in 2020.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) in Hawaii measures the real output of the other services sector in the state's economy, excluding government and government enterprises.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and growth of a key component of Hawaii's economy, which can inform economic analysis and policymaking.
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: This index is monitored by policymakers and market analysts as an indicator of economic activity in Hawaii, which can inform decision-making and policy interventions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Hawaii (HIOTHSERVEQGSP), retrieved from FRED.