Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Indiana
INPROBUSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
163.72
Year-over-Year Change
16.00%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Indiana measures the real output of the professional, scientific, and technical services sector 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
This index provides a measure of the volume of real economic activity in Indiana's professional, scientific, and technical services industry, which includes activities such as legal services, accounting, architecture, and consulting. It is a useful indicator for economists and policymakers to assess the health and growth of this key service sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This metric is used to track economic performance and guide policy decisions related to the professional services industry in Indiana.
Key Facts
- The index is based on 2012 as the reference year.
- Indiana's professional services sector accounts for over 9% of the state's total GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or volume of economic activity in Indiana's professional, scientific, and technical services sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and growth of a key service industry in the Indiana economy, which is useful for economic analysis 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 a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and market analysts to track the health and growth of Indiana's professional services sector, which can inform decisions related to economic development, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
Related Trends
Average Weekly Hours of Production Employees: Manufacturing: Durable Goods in Indiana
SMU18000003100000007A
Total Unemployed, Plus All Marginally Attached Workers, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Marginally Attached Workers for Indiana
U6UNEM6IN
People 25 Years and Over Who Have Completed a Graduate or Professional Degree for Indiana
GCT1503IN
Chain-Type Quantity Index for Real GDP: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Indiana
INFRBCIQGSP
Industrial Carbon Dioxide Emissions, Residual Fuel for Indiana
EMISSCO2VRFICBINA
Gross Domestic Product: Insurance Carriers and Related Activities (524) in Indiana
ININSCRANGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Indiana (INPROBUSQQGSP), retrieved from FRED.