Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Pennsylvania
PAFRSTFISHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.60
Year-over-Year Change
18.68%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Pennsylvania measures the real output of this economic sector in the state. It is a key indicator for monitoring the performance and growth of this industry within Pennsylvania's overall 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 the real, inflation-adjusted value of goods and services produced by the forestry, fishing, and related activities sector in Pennsylvania. It is used by economists and policymakers to assess the contribution of this industry to the state's economic output and growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index methodology.
Historical Context
This economic trend is relevant for understanding the performance and role of the forestry, fishing, and related activities industry within Pennsylvania's broader economic landscape.
Key Facts
- The index uses 2012 as the base year.
- This sector accounts for a small but important part of Pennsylvania's economy.
- The data is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the forestry, fishing, and related activities sector in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and contribution of a key industry within Pennsylvania's broader economic landscape, which is valuable information for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the role and performance of the forestry, fishing, and related activities sector within Pennsylvania's economy, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, so there may be a short delay between the end of the reference period and the data publication.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in Pennsylvania (PAFRSTFISHQGSP), retrieved from FRED.