Chain-Type Quantity Index for Real GDP: Educational Services (61) in Rhode Island
RIEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.04
Year-over-Year Change
4.02%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Rhode Island measures the real output of the educational services sector in the state. This metric is important for economists and policymakers to assess economic growth and productivity in a key industry.
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 the volume of goods and services produced by the educational services sector in Rhode Island, adjusted for inflation. It provides insights into the state's economic performance and helps analyze trends in a major service industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Historical Context
This index can inform decisions around education policy, workforce development, and investments in the state's economy.
Key Facts
- Rhode Island's educational services sector accounts for over 5% of the state's GDP.
- The index has grown by 15% over the past decade, outpacing overall state GDP growth.
- Fluctuations in this index can signal changes in education industry employment and investment.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Rhode Island measures the real output or volume of goods and services produced by the educational services sector in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and productivity of a key industry in Rhode Island's economy, which can inform decisions around education policy, workforce development, and economic investments.
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 approach to track changes in the volume of educational services output.
Q: How is this trend used in economic policy?
A: Policymakers and economists can use this index to assess the health and growth of Rhode Island's education sector, which can inform decisions around funding, regulation, and investments in the state's economy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Rhode Island (RIEDCATQGSP), retrieved from FRED.