Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Nebraska
NEAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.84
Year-over-Year Change
18.25%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Nebraska measures the inflation-adjusted output of this industry sector in the state. It is a key indicator of economic productivity and a critical data point for policymakers and analysts assessing the agricultural 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 changes in the real, inflation-adjusted dollar value of goods and services produced by the agriculture, forestry, fishing, and hunting industries in Nebraska. It is a volume measure that adjusts for price changes, providing a clearer picture of underlying economic activity in this crucial sector.
Methodology
The data is calculated based on Bureau of Economic Analysis estimates of real GDP by industry.
Historical Context
Economists and policymakers use this index to gauge the health and trajectory of Nebraska's agricultural economy and its contribution to the state's overall economic performance.
Key Facts
- Nebraska is a leading agricultural state, accounting for over $25 billion in annual farm receipts.
- The agriculture, forestry, fishing and hunting sector makes up over 5% of Nebraska's total GDP.
- This index has shown steady growth in recent years, reflecting the resiliency of Nebraska's agricultural economy.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted, real output of the agriculture, forestry, fishing and hunting industries in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of the health and productivity of Nebraska's agricultural economy, which is a major driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Economic Analysis based on estimates of real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the strength of Nebraska's agricultural sector and inform decisions on issues like trade, subsidies, and rural development.
Q: Are there update delays or limitations?
A: This data is typically released on a quarterly basis with some lag, but provides a reliable, authoritative measure of this important industry sector.
Related Trends
All Employees: Food Services and Drinking Places in Nebraska
SMU31000007072200001A
Business Applications for Nebraska
BUSAPPWNSANE
All Employees: Government: State Government Excluding Education in Nebraska
SMU31000009092200001
Housing Inventory: Average Listing Price Month-Over-Month in Nebraska
AVELISPRIMMNE
Regional Price Parities: All Items: Nonmetropolitan Portion for Nebraska
NENMPRPPALL
Implicit Regional Price Deflator: Nonmetropolitan Portion for Nebraska
NENMPIRPD
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Nebraska (NEAGRQGSP), retrieved from FRED.