Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Illinois
ILRETAILQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.47
Year-over-Year Change
23.90%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Illinois measures the volume of retail trade activity in the state, adjusted for inflation. This metric is a key indicator of economic performance and consumer spending patterns.
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 changes in the real (inflation-adjusted) dollar value of retail trade in Illinois, providing insights into the health of the state's consumer economy. Economists and policymakers use this data to assess consumer demand, identify economic trends, and inform policy decisions.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using a chain-type formula that tracks changes in the volume of retail trade activity.
Historical Context
This metric is closely watched by businesses, investors, and government officials to gauge the strength of Illinois' consumer economy and its broader economic conditions.
Key Facts
- The index is measured with a base year of 2012 = 100.
- Illinois accounts for approximately 4% of total U.S. retail trade activity.
- The retail trade sector represents around 6% of Illinois' overall economic output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of retail trade activity in the state of Illinois, providing insights into consumer spending patterns and the health of the state's consumer economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by businesses, investors, and policymakers to gauge the strength of Illinois' consumer economy and assess broader economic conditions in the state.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using a chain-type formula that tracks changes in the volume of retail trade activity.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to assess consumer demand, identify economic trends, and inform policy decisions that affect the retail trade sector and broader state economy.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Illinois (ILRETAILQQGSP), retrieved from FRED.