Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Rhode Island
RIAGRQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.54
Year-over-Year Change
-0.43%
Date Range
1/1/2005 - 10/1/2022
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Rhode Island measures the volume of economic output in these sectors across the state.
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 value of goods and services produced by the agriculture, forestry, fishing, and hunting industries in Rhode Island. It is a key indicator of the health and productivity of these vital economic sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This index informs policymakers and analysts about trends in Rhode Island's rural and resource-based economy.
Key Facts
- Rhode Island's agriculture, forestry, fishing and hunting sectors account for over 3% of the state's GDP.
- The index has shown steady growth over the past decade, indicating increasing productivity.
- These industries employ over 10,000 Rhode Islanders.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output from Rhode Island's agriculture, forestry, fishing, and hunting industries.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the health and productivity of key rural and resource-based sectors in the Rhode Island economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess trends in Rhode Island's rural and resource-based economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve with a short publication delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Rhode Island (RIAGRQQGSP), retrieved from FRED.