Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Montana
MTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133.53
Year-over-Year Change
49.57%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Montana measures the real output of the accommodation and food services sector in the state.
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 provides a measure of the real, or inflation-adjusted, gross domestic product (GDP) for the accommodation and food services industry in Montana. It is used by economists and policymakers to track the performance and growth of this key sector of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric is relevant for understanding consumer spending patterns and the health of Montana's tourism and hospitality industries.
Key Facts
- The index has a base year of 2012.
- Montana's accommodation and food services sector accounts for over 10% of the state's GDP.
- The index reached its highest point 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 GDP of Montana's accommodation and food services sector, providing a gauge of the output and performance of this key industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding consumer spending patterns, tourism activity, and the overall health of Montana's hospitality and leisure industries, which are major contributors to the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to inform decisions and policies related to supporting and promoting Montana's tourism, hospitality, and consumer-driven sectors.
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: Accommodation and Food Services (72) in Montana (MTACCFDQGSP), retrieved from FRED.