Chain-Type Quantity Index for Real GDP: Information (51) in Washington
WAINFOQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
246.52
Year-over-Year Change
322.65%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in Washington measures the real output of the information industry in Washington. This metric is important for economists and policymakers to understand productivity and growth trends in this key economic 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: Information (51) in Washington is a measure of the real, inflation-adjusted output of the information industry in the state of Washington. It provides insight into the productivity and economic contribution of this sector, which includes industries like publishing, telecommunications, and data processing.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using input-output accounts and price indices.
Historical Context
This metric is used by economists, analysts, and policymakers to assess the performance and competitiveness of Washington's information economy.
Key Facts
- The information industry accounts for over 10% of Washington's GDP.
- Real output in Washington's information sector has grown over 50% since 2010.
- The state's information industry is more productive than the national average.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Washington measures the real, inflation-adjusted output of the information industry in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and economic contribution of Washington's information sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using input-output accounts and price indices.
Q: How is this trend used in economic policy?
A: Economists, analysts, and policymakers use this metric to assess the performance and competitiveness of Washington's information economy, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Information (51) in Washington (WAINFOQGSP), retrieved from FRED.