Chain-Type Quantity Index for Real GDP: Educational Services (61) in Alabama
ALEDCATQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.99
Year-over-Year Change
5.78%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Alabama measures the inflation-adjusted output of the educational services sector in the state. This metric is crucial for economists and policymakers to understand the health and productivity of a key component of the state's economy.
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 quantity of goods and services produced by the educational services industry in Alabama. It is used to track changes in the sector's economic output over time, which can inform decisions around public funding, workforce development, and economic policy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Trends in this index are monitored by state and local government agencies, as well as education institutions and industry groups, to assess the sector's economic performance.
Key Facts
- The index is based on 2012 as the reference year.
- Educational services account for over 5% of Alabama's total GDP.
- The index has shown steady growth in the sector since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by the educational services industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index are important for understanding the productivity and economic contribution of the education sector in Alabama, which can inform policy decisions and investment strategies.
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: State and local government agencies, as well as education institutions and industry groups, monitor this index to assess the sector's economic performance and inform decisions around public funding, workforce development, and economic policy.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Alabama (ALEDCATQQGSP), retrieved from FRED.