Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Indiana
INFRSTFISHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.72
Year-over-Year Change
31.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This index measures the real (inflation-adjusted) quantity of forestry, fishing, and related activities in the GDP of Indiana. It is a key indicator of the economic performance and productivity of this important industry in the state.
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: Forestry, Fishing, and Related Activities (113-115) in Indiana tracks the volume of goods and services produced by this sector over time, adjusted for inflation. It provides insights into the growth and efficiency of natural resource-based industries in the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP.
Historical Context
This index is closely monitored by policymakers and analysts to assess the health and competitiveness of Indiana's natural resource industries.
Key Facts
- The index has a base year of 2012 = 100.
- Indiana's forestry and fishing sector accounts for around 1% of state GDP.
- The index reached its highest level in 2019 before declining in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by the forestry, fishing, and related activities sector in Indiana's GDP.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the performance and competitiveness of a key natural resource industry in Indiana's economy, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP.
Q: How is this trend used in economic policy?
A: This index is closely monitored by policymakers and analysts to assess the health and competitiveness of Indiana's natural resource industries, which informs economic and regulatory decisions.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Indiana (INFRSTFISHQGSP), retrieved from FRED.