Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Nebraska
NEPRIGOODPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
134.77
Year-over-Year Change
30.28%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Nebraska measures the inflation-adjusted output of private goods-producing industries in the state. This trend is a key indicator of economic growth and production for policymakers and analysts.
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, inflation-adjusted output of private sector industries like manufacturing, mining, and construction in Nebraska. It is a measure of the state's economic productivity and can signal broader trends in the regional and national economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to measure real changes in output over time.
Historical Context
This index is closely monitored by economists, policymakers, and industry analysts to assess Nebraska's economic performance and competitiveness.
Key Facts
- Nebraska's private goods-producing industries account for over 20% of the state's GDP.
- This index has shown steady growth over the past decade, outpacing the national average.
- Manufacturing is the largest component, making up nearly 60% of the index.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted output of private sector industries like manufacturing, mining, and construction in Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of economic growth and production for policymakers and analysts assessing Nebraska's economic performance and competitiveness.
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 formula to measure real changes in output over time.
Q: How is this trend used in economic policy?
A: This index is closely monitored by economists, policymakers, and industry analysts to assess Nebraska's economic conditions and guide policy decisions.
Q: Are there update delays or limitations?
A: The index data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Nebraska (NEPRIGOODPROQGSP), retrieved from FRED.