Chain-Type Quantity Index for Real GDP: All Industry Total in Maine
MEQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.80
Year-over-Year Change
7.11%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: All Industry Total in Maine measures the state's total economic output adjusted for inflation. This key metric provides insight into Maine's overall economic performance and growth.
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 tracks the real, inflation-adjusted level of economic activity in Maine across all industries. It is a comprehensive measure used by policymakers and analysts to gauge the state's macroeconomic health and development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to aggregate industry-level production into a total state GDP figure.
Historical Context
This real GDP trend is widely referenced by Maine state officials, businesses, and economists to inform economic policy, investment, and forecasting decisions.
Key Facts
- Maine's real GDP index stood at 117.56 in 2021.
- The index has grown at an average annual rate of 2.3% over the past decade.
- Real GDP is a key measure of a state's economic health and living standards.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: All Industry Total in Maine measures the total real, inflation-adjusted economic output of the state across all industries.
Q: Why is this trend relevant for users or analysts?
A: This real GDP index is a crucial indicator of Maine's macroeconomic performance and growth, providing insights that inform economic policymaking, business planning, and investment 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-weighted methodology to aggregate industry-level production into a comprehensive state GDP figure.
Q: How is this trend used in economic policy?
A: Maine state officials, policymakers, and economists closely monitor this real GDP index to assess the state's overall economic health, set budgets, and develop policies to promote sustainable growth.
Q: Are there update delays or limitations?
A: The real GDP index data is typically released by the Bureau of Economic Analysis 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: All Industry Total in Maine (MEQQGSP), retrieved from FRED.