Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in North Carolina
NCAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.88
Year-over-Year Change
63.69%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in North Carolina measures the inflation-adjusted output of the state's agricultural, forestry, and fishing industries. This metric is crucial for economists and policymakers to assess the productivity and health of these key sectors.
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 volume of goods and services produced by North Carolina's agriculture, forestry, fishing, and hunting industries, adjusted for price changes. It provides a comprehensive view of the real economic activity in these sectors, which are significant contributors to the state's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Historical Context
This index is widely used by economists, industry analysts, and policymakers to monitor trends and make informed decisions about North Carolina's rural and natural resource-based economy.
Key Facts
- North Carolina's agriculture, forestry, and fishing industries account for over 5% of the state's GDP.
- The Chain-Type Quantity Index has shown steady growth in these sectors over the past decade.
- Policymakers use this index to guide decisions on agricultural subsidies, land use, and natural resource management.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in North Carolina measures the inflation-adjusted output of the state's agricultural, forestry, and fishing industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for economists and policymakers to assess the productivity and health of these key sectors, which are significant contributors to North Carolina's overall economic performance.
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 approach.
Q: How is this trend used in economic policy?
A: This index is widely used by economists, industry analysts, and policymakers to monitor trends and make informed decisions about North Carolina's rural and natural resource-based economy.
Q: Are there update delays or limitations?
A: The Chain-Type Quantity Index is updated regularly by the U.S. Bureau of Economic Analysis, with minimal delays.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in North Carolina (NCAGRQGSP), retrieved from FRED.