Chain-Type Quantity Index for Real GDP: Real Estate (531) in Utah
UTREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139.04
Year-over-Year Change
54.04%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate (531) in Utah measures the real output of the real estate sector in Utah's economy. This metric is a key indicator of economic growth and activity in the state's real estate market.
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 tracks changes in the real (inflation-adjusted) output of the real estate industry in Utah over time. It provides a measure of the underlying growth in the state's real estate sector, which is an important component of overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This index is used by economists, policymakers, and industry analysts to assess the health and dynamics of Utah's real estate market and its contribution to the state's economic growth.
Key Facts
- Utah's real estate sector accounts for over 10% of the state's GDP.
- The real estate index has grown by an average of 3% annually over the past decade.
- The index hit a record high in 2021, indicating strong real estate activity in the state.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Real Estate (531) in Utah measures the real (inflation-adjusted) output of the real estate sector in the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of the health and growth of Utah's real estate market, which is an important component of the state's overall economic performance.
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 methodology.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts use this index to assess the dynamics of Utah's real estate sector and its contribution to the state's economic growth.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate (531) in Utah (UTREALQGSP), retrieved from FRED.