Chain-Type Quantity Index for Real GDP: Professional and Business Services (54, 55, 56) in Nebraska
NEPROBUSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
138.66
Year-over-Year Change
63.41%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Professional and Business Services (54, 55, 56) in Nebraska measures the real output of the professional, business, and administrative services sectors in the state. This metric provides insight into the productivity and economic health of these key service industries.
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 tracks changes in the real, inflation-adjusted output of the professional, scientific, technical, management, administrative, and waste services sectors in Nebraska. It is a valuable indicator of economic performance and productivity trends in the state's services economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey information and economic modeling.
Historical Context
Policymakers and analysts use this index to assess the strength and growth of Nebraska's services-producing industries.
Key Facts
- Nebraska's professional and business services sectors account for over 20% of state GDP.
- The index has grown by 15% over the past decade, outpacing overall state economic growth.
- The index reached an all-time high in 2021, indicating robust expansion in these service industries.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Professional and Business Services (54, 55, 56) in Nebraska measures the real, inflation-adjusted output of key service sectors in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the productivity and growth of Nebraska's professional, scientific, technical, and administrative services industries, which are critical drivers of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey information and economic modeling techniques.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the strength and expansion of Nebraska's services-producing industries, which inform decisions around economic development, workforce planning, and fiscal policy.
Q: Are there update delays or limitations?
A: The index data is published quarterly by the Federal Reserve with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Professional and Business Services (54, 55, 56) in Nebraska (NEPROBUSQGSP), retrieved from FRED.