Chain-Type Quantity Index for Real GDP: Construction (23) in Maryland
MDCONSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
85.72
Year-over-Year Change
21.83%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in Maryland measures the real output of the construction industry in the state. This metric is important for economists and policymakers to gauge the health and trends of a key sector of the state's economy.
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: Construction (23) in Maryland tracks the real, inflation-adjusted value of construction activity in the state. It provides a standardized measure of the quantity of construction output over time, adjusting for price changes.
Methodology
This index is calculated by the U.S. Bureau of Economic Analysis using data on construction activity and prices.
Historical Context
Tracking the real construction output in Maryland is relevant for understanding broader economic conditions and informing policy decisions.
Key Facts
- The index is rebased to 2012=100.
- Construction accounts for around 4% of Maryland's total GDP.
- The index reached a peak in 2005 and declined during the Great Recession.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Construction (23) in Maryland measures the real, inflation-adjusted output of the construction industry in the state.
Q: Why is this trend relevant for users or analysts?
A: Tracking construction activity is important for understanding the health of Maryland's economy, as the construction sector is a key contributor to the state's GDP.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using data on construction activity and prices.
Q: How is this trend used in economic policy?
A: The construction index is used by economists and policymakers to assess the state of Maryland's economy and inform decisions related to infrastructure, housing, and other construction-related policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Construction (23) in Maryland (MDCONSTQGSP), retrieved from FRED.