Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in South Carolina
SCWHOLEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.77
Year-over-Year Change
35.97%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in South Carolina measures the inflation-adjusted output of the wholesale trade sector in the state. This metric is a key indicator of economic activity and can inform policy decisions.
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 tracks the real, inflation-adjusted value added by the wholesale trade industry in South Carolina. This metric provides insight into the productivity and performance of a critical component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes over time.
Historical Context
Policymakers and analysts use this index to assess the health and trajectory of South Carolina's wholesale trade sector and its contribution to overall state GDP.
Key Facts
- The index is based on 2012 as the reference year.
- South Carolina's wholesale trade sector accounts for approximately 6% of state GDP.
- The index reached a record high in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in South Carolina measures the 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 insight into the productivity and performance of a critical component of South Carolina's economy, informing policy decisions and economic assessments.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and trajectory of South Carolina's wholesale trade sector and its contribution to overall state GDP.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be a delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in South Carolina (SCWHOLEQGSP), retrieved from FRED.