Chain-Type Quantity Index for Real GDP: Private Industries in Alabama
ALPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.96
Year-over-Year Change
27.06%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Industries in Alabama measures the inflation-adjusted economic output of private industries in the state. This metric is crucial for understanding Alabama's economic growth and performance.
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 overall volume of goods and services produced by private companies in Alabama, adjusted for price changes. It is a key indicator used by economists, policymakers, and businesses to assess the state's economic health and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach.
Historical Context
The Alabama real GDP index informs decisions around economic policy, business investment, and resource allocation.
Key Facts
- The index is referenced as ALPIQGSP by the Federal Reserve.
- Alabama's private industries account for over 80% of the state's total economic output.
- The index is published quarterly with a 2-month release lag.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Industries in Alabama measures the inflation-adjusted output of private businesses in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding Alabama's economic growth and competitiveness, informing policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to adjust for price changes.
Q: How is this trend used in economic policy?
A: The Alabama real GDP index informs decisions around economic policy, business investment, and resource allocation in the state.
Q: Are there update delays or limitations?
A: The index is published quarterly with a 2-month release lag.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Industries in Alabama (ALPIQGSP), retrieved from FRED.