Chain-Type Quantity Index for Real GDP: All Industry Total in Alabama
ALQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.86
Year-over-Year Change
8.87%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: All Industry Total in Alabama measures the volume of economic output in the state. It is a key indicator for analysts and policymakers to assess Alabama's economic performance and growth.
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 inflation-adjusted, chain-weighted total gross domestic product (GDP) for all industries in Alabama. It provides a comprehensive measure of the state's overall economic activity and productivity trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
The real GDP index is widely used to inform economic and fiscal policy decisions at the state and national level.
Key Facts
- The index has a base year of 2012 = 100.
- Alabama's real GDP grew by 2.5% in 2021.
- The state's economic output accounts for around 1% of total U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: All Industry Total in Alabama measures the inflation-adjusted, total economic output of the state.
Q: Why is this trend relevant for users or analysts?
A: This real GDP index is a comprehensive indicator of Alabama's overall economic performance and growth, which is crucial for policymakers and analysts to assess the state's economic health.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: The real GDP index is widely used to inform economic and fiscal policy decisions at the state and national level, as it provides a measure of Alabama's overall economic activity and productivity.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: All Industry Total in Alabama (ALQQGSP), retrieved from FRED.