Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Indiana
INFOODBEVTOBMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.58
Year-over-Year Change
30.10%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Indiana measures the output of this industry sector in the state, providing insight into economic productivity and growth.
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) volume of goods produced by food, beverage, and tobacco manufacturers in Indiana. It is a valuable indicator of the health and trends within this crucial industrial segment of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type index method to measure real GDP at the state and industry levels.
Historical Context
Policymakers and analysts monitor this index to assess the performance and competitiveness of Indiana's food and beverage manufacturing industries.
Key Facts
- Indiana is a major center for food and beverage production.
- This index has grown by 23% over the past decade.
- The food and beverage industry accounts for over 50,000 jobs in Indiana.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output volume of the food, beverage, and tobacco manufacturing industries in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into the productivity and competitiveness of a crucial sector of Indiana's economy, informing business and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type index method for state-level real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess the performance and growth of Indiana's food and beverage manufacturing industries.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food and Beverage and Tobacco Product Manufacturing (311-312) in Indiana (INFOODBEVTOBMANQGSP), retrieved from FRED.