Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Mississippi
MSOTHSERVEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.68
Year-over-Year Change
-11.15%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Mississippi tracks the inflation-adjusted output of the state's service sector, excluding government. This metric is crucial for understanding the dynamics of Mississippi's economic growth and development.
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 provides a measure of the real, inflation-adjusted changes in the output of Mississippi's service sector, excluding government. It is an important indicator of the state's economic performance and a key input for policymakers and analysts assessing the health and trajectory of the local economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric helps inform economic policy decisions and market analysis related to Mississippi's service industry and overall economic conditions.
Key Facts
- Mississippi's service sector accounts for over 60% of the state's GDP.
- The index uses 2012 as the base year for inflation adjustment.
- Service industries are a key driver of economic growth in the state.
FAQs
Q: What does this economic trend measure?
A: This index tracks the inflation-adjusted output of Mississippi's service sector, excluding government. It provides a measure of real changes in service industry production.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the dynamics of Mississippi's economic growth and development, as the service sector is a major 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 a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: This index helps inform economic policy decisions and market analysis related to Mississippi's service industry and overall economic conditions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the Federal Reserve, with potential delays or revisions typical of economic statistics.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Mississippi (MSOTHSERVEQGSP), retrieved from FRED.