Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Indiana
INACCOMDQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.68
Year-over-Year Change
-0.26%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Indiana measures the real, inflation-adjusted output of the accommodation and food services sector in the state. This is an important economic indicator for understanding the performance of Indiana's service 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
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Indiana tracks the volume of economic activity in the accommodation and food services sector, which includes hotels, restaurants, and other hospitality businesses. This data provides insights into consumer spending and tourism trends within the state.
Methodology
The index is calculated using a chain-weighted formula that adjusts for price changes over time.
Historical Context
Policymakers and market analysts use this data to assess the health of Indiana's service economy and make informed decisions.
Key Facts
- The index uses 2012 as the base year.
- Indiana's accommodation and food services sector accounts for over 10% of the state's GDP.
- The index has shown steady growth in recent years, indicating a robust service industry in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the accommodation and food services sector in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the performance of Indiana's service industry, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The index is calculated using a chain-weighted formula that adjusts for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this data to assess the health of Indiana's service economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be some delay in the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Indiana (INACCOMDQQGSP), retrieved from FRED.