Chain-Type Quantity Index for Real GDP: Air Transportation (481) in Illinois
ILAIRTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.39
Year-over-Year Change
22.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Air Transportation (481) in Illinois measures the real output of the air transportation industry in Illinois, adjusted for inflation. This metric is important for economists and policymakers to understand regional economic trends and the performance of key sectors.
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 quantity of goods and services produced by the air transportation industry in Illinois. It is a useful indicator of economic activity and growth in this vital transportation sector at the state level.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This trend is valuable for policymakers and industry analysts monitoring the economic health and competitiveness of Illinois' air transportation sector.
Key Facts
- The index uses 2012 as the base year.
- Air transportation is a key industry in Illinois, contributing significantly to the state's economy.
- The trend can signal changes in travel, shipping, and other economic activity in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted quantity of goods and services produced by the air transportation industry in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional economic trends and the performance of the air transportation sector, which is a vital industry in Illinois.
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 formula.
Q: How is this trend used in economic policy?
A: This trend is valuable for policymakers and industry analysts monitoring the economic health and competitiveness of Illinois' air transportation sector.
Q: Are there update delays or limitations?
A: The data is released regularly by the U.S. Federal Reserve, but may have some update delays or limitations typical of economic statistics.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Air Transportation (481) in Illinois (ILAIRTRANQGSP), retrieved from FRED.