Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Utah
UTPRIGOODPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.66
Year-over-Year Change
69.73%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Utah measures the inflation-adjusted output of the private goods-producing sector in the state. This metric is crucial for economists and policymakers to assess Utah's economic health and productivity.
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 the real output of Utah's private industries that manufacture physical products, such as manufacturing, mining, and construction. It provides a comprehensive gauge of the state's industrial production and is a key input for evaluating broader economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to adjust for inflation.
Historical Context
This index is widely referenced by market analysts, policymakers, and economists to monitor Utah's industrial activity and inform economic decisions.
Key Facts
- The index is published quarterly by the U.S. Bureau of Economic Analysis.
- Utah's private goods-producing sector accounts for over 20% of the state's total GDP.
- The index uses 2012 as the base year for calculating real inflation-adjusted values.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Utah measures the inflation-adjusted output of the state's private sector industries that manufacture physical products.
Q: Why is this trend relevant for users or analysts?
A: This index is a crucial indicator of Utah's industrial productivity and economic health, providing valuable insights for policymakers, economists, and market 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 method to adjust for inflation.
Q: How is this trend used in economic policy?
A: This index is widely referenced by policymakers, economists, and market analysts to monitor Utah's industrial activity and inform economic decisions.
Q: Are there update delays or limitations?
A: The index is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay in data availability.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Utah (UTPRIGOODPROQGSP), retrieved from FRED.