Chain-Type Quantity Index for Real GDP: Accommodation (721) in Montana
MTACCOMDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
161.79
Year-over-Year Change
98.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation (721) in Montana measures the inflation-adjusted economic output of the accommodation sector in Montana. This metric is crucial for understanding the state's tourism-driven 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
This index tracks the real, inflation-adjusted gross domestic product (GDP) of the accommodation industry in Montana. It provides a measure of the sector's economic performance and its contribution to the overall state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using price-adjusted national accounts.
Historical Context
Policymakers and analysts use this index to gauge the health of Montana's tourism industry and make informed decisions about economic development.
Key Facts
- Montana's accommodation sector accounts for over 10% of the state's GDP.
- The index has shown steady growth in recent years, indicating a thriving tourism industry.
- Seasonal fluctuations in the index reflect the cyclical nature of Montana's tourism-based economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted gross domestic product (GDP) of the accommodation sector in Montana, providing a gauge of the economic output of the state's tourism industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the performance and contribution of Montana's tourism-driven economy, which is a key driver of the state's overall economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using price-adjusted national accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to gauge the health of Montana's tourism industry and make informed decisions about economic development and support for the accommodation sector.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation (721) in Montana (MTACCOMDQGSP), retrieved from FRED.