Chain-Type Quantity Index for Real GDP: Construction (23) in Illinois
ILCONSTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.28
Year-over-Year Change
-4.79%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in Illinois measures the real output of the construction industry in Illinois. This metric is crucial for economists and policymakers to assess the health and growth of the state's construction 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: Construction (23) in Illinois tracks the real, inflation-adjusted output of the construction industry in the state. It provides a comprehensive measure of the volume of construction activity, which is a key indicator of economic growth and investment.
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 widely used by economists, policymakers, and industry analysts to monitor the construction industry's contribution to Illinois' overall economic performance.
Key Facts
- The index is based on 2012 as the reference year.
- Construction accounts for around 4% of Illinois' total GDP.
- The index reached a high of 123.58 in Q4 2021.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Construction (23) in Illinois measures the real, inflation-adjusted output of the construction industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for assessing the health and growth of Illinois' construction sector, which is a key indicator of overall economic performance and investment in the state.
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 widely used by economists, policymakers, and industry analysts to monitor the construction industry's contribution to Illinois' overall economic performance and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Construction (23) in Illinois (ILCONSTQQGSP), retrieved from FRED.