Chain-Type Quantity Index for Real GDP: Real Estate (531) in Illinois
ILREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.86
Year-over-Year Change
10.74%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate (531) in Illinois measures the real output of the real estate sector in Illinois' economy. This trend is a key indicator for understanding the state's economic growth and assessing the health of its real estate industry.
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, volume-based production of the real estate industry in Illinois, which includes activities such as property leasing, sales, and management. It provides insights into the real estate sector's contribution to the state's overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using a chain-type index methodology.
Historical Context
Policymakers and analysts use this trend to monitor the real estate market's impact on Illinois' economic development and to inform policy decisions.
Key Facts
- The real estate sector accounts for approximately 13% of Illinois' total GDP.
- The index has shown steady growth in Illinois' real estate output since 2010.
- Fluctuations in this trend can signal changes in the state's overall economic performance.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Real Estate (531) in Illinois measures the real, inflation-adjusted output of the real estate industry in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and growth of Illinois' real estate sector, which is a significant contributor to the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using a chain-type index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the real estate market's impact on Illinois' economic development and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the BEA, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate (531) in Illinois (ILREALQGSP), retrieved from FRED.