Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Rhode Island
RIWHOLEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.86
Year-over-Year Change
-4.49%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Rhode Island measures the real output of the wholesale trade sector in the state, adjusted for inflation. This metric is important for economists and policymakers to understand the health and performance of Rhode Island's wholesale 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 being traded at the wholesale level in Rhode Island over time, providing insight into the state's economic activity and productivity. The index is calculated using a chain-weighted methodology that accounts for changes in the mix of goods being traded.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and other economic indicators.
Historical Context
This metric is used by analysts and policymakers to assess the wholesale trade sector's contribution to Rhode Island's overall economic growth and development.
Key Facts
- Rhode Island's wholesale trade sector accounts for approximately 8% of the state's total GDP.
- The Chain-Type Quantity Index has shown steady growth in Rhode Island's wholesale trade over the past decade.
- Wholesale trade is a key driver of employment and economic activity in many of Rhode Island's urban centers.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Rhode Island measures the real, inflation-adjusted output of the wholesale trade sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and performance of Rhode Island's wholesale industry, which is a significant contributor to the state's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the wholesale trade sector's contribution to Rhode Island's overall economic growth and to inform policy decisions related to the state's economic development strategies.
Q: Are there update delays or limitations?
A: The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Rhode Island is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Rhode Island (RIWHOLEQGSP), retrieved from FRED.