Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Oregon
ORFOODDPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.32
Year-over-Year Change
38.39%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Oregon measures the real output of the food services and drinking places industry in Oregon. This metric is important for economists and policymakers to track consumer spending patterns and the overall health of the state's service sector.
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 provides a measure of the real output or quantity of goods and services produced by the food services and drinking places industry in Oregon, adjusted for price changes. It is a key indicator of consumer activity and the performance of Oregon's service economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP accounts.
Historical Context
Policymakers and analysts use this index to assess economic conditions and consumer behavior in Oregon.
Key Facts
- The index is based on 2012 as the reference year.
- Oregon's food services industry accounts for over 4% of state GDP.
- The index has shown steady growth since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or quantity of goods and services produced by the food services and drinking places industry in Oregon, adjusted for price changes.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of consumer spending patterns and the overall health of Oregon's service sector, which is crucial for understanding the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess economic conditions and consumer behavior in Oregon, which informs decision-making and policy interventions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Oregon (ORFOODDPQGSP), retrieved from FRED.