Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in North Carolina
NCOTHSERVEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.94
Year-over-Year Change
16.79%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) in North Carolina measures the real output of the state's non-governmental service sector. This metric is a key indicator of economic growth and productivity in North Carolina.
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 services produced in North Carolina, excluding government and government-related activities. It is a useful gauge of the state's overall economic health and the performance of its private service industries.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on GDP estimates and price indices.
Historical Context
Policymakers and analysts monitor this index to assess the service sector's contribution to North Carolina's economic output and development.
Key Facts
- The index uses 2012 as the base year.
- Other services include industries like finance, healthcare, and professional services.
- The index has risen steadily over the past decade, reflecting North Carolina's economic growth.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or volume, of non-governmental service industries in North Carolina, excluding government activities.
Q: Why is this trend relevant for users or analysts?
A: The service sector is a major driver of economic growth in North Carolina, so this index provides valuable insight into the state's overall economic performance and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on GDP estimates and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the health and growth of North Carolina's private service industries, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve, with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
Related Trends
All Employees: Air Transportation in North Carolina
SMU37000004348100001A
Gross Domestic Product: Natural Resources and Mining (11, 21) in North Carolina
NCNATRESMINNGSP
Housing Inventory: Price Increased Count Year-Over-Year in North Carolina
PRIINCCOUYYNC
Number of Identified Exporters to Italy from North Carolina
NCITAA475SCEN
Average Hourly Earnings of All Employees: Financial Activities in North Carolina
SMU37000005500000003
All Employees: Repair and Maintenance in North Carolina
SMU37000008081100001A
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in North Carolina (NCOTHSERVEQGSP), retrieved from FRED.