Chain-Type Quantity Index for Real GDP: Construction (23) in South Carolina
This dataset tracks chain-type quantity index for real gdp: construction (23) in south carolina over time.
Latest Value
109.41
Year-over-Year Change
3.70%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Construction (23) in South Carolina measures the volume of construction activity in the state's overall economic output. This trend is important for economists and policymakers to understand the health and growth of the construction 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
The Chain-Type Quantity Index for Real GDP: Construction (23) in South Carolina is a measure of the real, inflation-adjusted volume of construction activity contributing to the state's gross domestic product. It provides insight into the construction industry's performance and how it impacts the broader state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and analysts use this metric to assess the construction industry's role in South Carolina's economic conditions and outlook.
Key Facts
- South Carolina's construction GDP index reached a record high in 2021.
- The index declined sharply during the COVID-19 pandemic but has since rebounded.
- Construction is a key driver of economic activity in many regions of South Carolina.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Construction (23) in South Carolina measures the real, inflation-adjusted volume of construction activity contributing to the state's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance of South Carolina's construction industry and how it impacts the broader state economy, making it relevant for policymakers, economists, and industry analysts.
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 metric to assess the construction industry's role in South Carolina's economic conditions and outlook, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published 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: Construction (23) in South Carolina (SCCONSTQQGSP), retrieved from FRED.