Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Pennsylvania
PACHEMMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
127.10
Year-over-Year Change
39.67%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Pennsylvania measures the real output of the chemical manufacturing industry in the state. This metric is important for economists and policymakers to assess economic growth and productivity trends in a key industrial 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 tracks the real gross domestic product (GDP) of the chemical manufacturing industry in Pennsylvania. It is a volume measure that adjusts for price changes, providing a more accurate representation of the industry's economic performance over time.
Methodology
The data is calculated based on industry-level output measures and price deflators from the U.S. Bureau of Economic Analysis.
Historical Context
The chemical manufacturing index is used by analysts and policymakers to monitor the health and competitiveness of this critical industry within the broader state economy.
Key Facts
- Pennsylvania is a major center of chemical manufacturing in the U.S.
- The chemical industry accounts for over 4% of Pennsylvania's GDP.
- The index has shown steady growth in real output since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the chemical manufacturing industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: The chemical manufacturing index is an important indicator of economic performance and productivity in a key industrial sector for the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on industry-level output measures and price deflators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the health and competitiveness of Pennsylvania's chemical manufacturing industry within the broader state economy.
Q: Are there update delays or limitations?
A: The index data is published quarterly with a typical 2-3 month lag from the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Chemical Manufacturing (325) in Pennsylvania (PACHEMMANQGSP), retrieved from FRED.