Chain-Type Quantity Index for Real GDP: All Industry Total in Indiana
INQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.32
Year-over-Year Change
29.52%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: All Industry Total in Indiana measures the total real economic output of all industries in the state. It is a key indicator for understanding Indiana's economic growth and performance.
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 volume of economic activity in Indiana, adjusting for inflation to provide a real, constant-dollar measure of the state's gross domestic product (GDP). Economists and policymakers use this data to analyze the health and direction of Indiana's economy.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula that adjusts for price changes over time.
Historical Context
The Indiana real GDP index is used to inform economic and policy decisions at the state and national level.
Key Facts
- Indiana's real GDP index has grown by over 25% since 2005.
- The index reached an all-time high in 2021, indicating robust economic expansion.
- Manufacturing is the largest contributor to Indiana's real GDP.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: All Industry Total in Indiana measures the total real economic output of all industries in the state, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator for understanding Indiana's economic growth and performance, which is important for economists, policymakers, and businesses operating 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-weighted formula that adjusts for price changes over time.
Q: How is this trend used in economic policy?
A: The Indiana real GDP index is used to inform economic and policy decisions at the state and national level, as it provides a comprehensive measure of the state's economic activity.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: All Industry Total in Indiana (INQGSP), retrieved from FRED.