Chain-Type Quantity Index for Real GDP: Educational Services (61) in Maryland
MDEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.56
Year-over-Year Change
-1.20%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Maryland measures the real output of the educational services sector in the state. This economic indicator is important for understanding productivity trends and economic growth in Maryland's education industry.
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 tracks changes in the real, inflation-adjusted output of the educational services sector in Maryland. It provides a measure of the sector's contribution to the state's overall economic performance and can inform policy decisions related to education and workforce development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to real GDP estimation.
Historical Context
Policymakers and economic analysts use this trend to assess the relative performance and economic impact of Maryland's education industry.
Key Facts
- The index is based on 2012 as the reference year.
- Educational services account for about 3% of Maryland's total GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Maryland measures the real, inflation-adjusted output of the educational services sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and economic contribution of Maryland's education industry, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to real GDP estimation.
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this trend to assess the relative performance and economic impact of Maryland's education industry, which can inform decisions related to education funding, workforce development, and economic growth strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Maryland (MDEDCATQGSP), retrieved from FRED.