Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in North Carolina
NCPROSCITCHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
176.07
Year-over-Year Change
127.39%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the professional, scientific, and technical services sector in North Carolina. It provides insight into the productivity and growth of this important economic segment.
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
The chain-type quantity index for real GDP tracks changes in the volume of goods and services produced in the professional, scientific, and technical services industry in North Carolina. This metric is used by economists and policymakers to analyze productivity, competitiveness, and structural shifts within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using methods to adjust for inflation and other factors.
Historical Context
This trend is closely monitored by state and federal policymakers to inform economic development strategies and public investment decisions.
Key Facts
- North Carolina's professional services sector accounts for over 10% of the state's GDP.
- This index has grown by 30% over the past decade, outpacing the national average.
- The sector employs over 300,000 workers in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the professional, scientific, and technical services sector in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and growth of an important economic segment in North Carolina, which is useful for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using methods to adjust for inflation and other factors.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal policymakers to inform economic development strategies and public investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-month lag from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Professional, Scientific, and Technical Services (54) in North Carolina (NCPROSCITCHQGSP), retrieved from FRED.