Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Arkansas
ARPRISERVPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.39
Year-over-Year Change
33.02%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Arkansas measures the real, inflation-adjusted output of the private services sector in the state. This metric is important for analyzing economic growth and productivity trends.
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 quantity of goods and services produced by private service industries in Arkansas, adjusted for price changes. It provides a gauge of the real economic output of this key sector, which accounts for a large share of the state's economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures and price deflators.
Historical Context
Policymakers and analysts use this index to assess the health and trajectory of Arkansas' services-producing economy.
Key Facts
- The index uses 2012 as the base year.
- Services account for over 60% of Arkansas' GDP.
- The index fell sharply in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Arkansas measures the real, inflation-adjusted output of the private services sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides an important gauge of the health and growth of Arkansas' services-producing economy, which is a key driver 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 industry-level GDP figures and price deflators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the trajectory of Arkansas' services-producing economy and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Services-Providing Industries in Arkansas (ARPRISERVPROQGSP), retrieved from FRED.