Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Mississippi
MSPROBUSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
142.88
Year-over-Year Change
17.40%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Mississippi measures the volume of economic output for this sector in the state. It is an important indicator for policymakers and analysts to track changes in productivity and service-sector 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
This index represents the real, inflation-adjusted quantity of goods and services produced by the professional, scientific, and technical services industry in Mississippi. It is used to analyze trends in economic activity and structural shifts within the state's service economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to adjust for price changes over time.
Historical Context
This index informs decisions around economic development, workforce, and fiscal policies in Mississippi.
Key Facts
- This index has a base year of 2012.
- The professional services sector makes up about 12% of Mississippi's GDP.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by the professional, scientific, and technical services industry in Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator for tracking changes in productivity and service-sector growth within the Mississippi economy, which informs economic policymaking and business 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 formula to adjust for price changes over time.
Q: How is this trend used in economic policy?
A: This index informs decisions around economic development, workforce, and fiscal policies in Mississippi, as it provides insights into the performance and structure of the state's service economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in Mississippi (MSPROBUSQQGSP), retrieved from FRED.