Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Arkansas
ARRETAILQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.87
Year-over-Year Change
51.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Arkansas measures the real output of the retail trade sector in Arkansas. This metric is important for economists and policymakers to analyze the state's economic performance and consumer demand.
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 volume of real output for the retail trade industry in Arkansas, which encompasses businesses that sell merchandise and provide services directly to consumers. It serves as a key indicator of consumer spending and economic activity in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric is closely watched by state policymakers and businesses to gauge consumer trends and make informed decisions.
Key Facts
- The index is published quarterly by the U.S. Bureau of Economic Analysis.
- Arkansas's retail trade sector accounts for about 6% of the state's total GDP.
- The index uses 2012 as the base year for calculating real output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the retail trade sector in Arkansas. It tracks the volume of goods and services sold by businesses in the retail industry.
Q: Why is this trend relevant for users or analysts?
A: The retail trade index is an important indicator of consumer spending and economic activity in Arkansas. It provides insights into the health of the state's consumer-driven economy.
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 to measure real output in the retail trade sector.
Q: How is this trend used in economic policy?
A: State policymakers and businesses closely monitor this metric to gauge consumer trends and make informed decisions about economic policy, investments, and business strategies.
Q: Are there update delays or limitations?
A: The retail trade index is published quarterly, so there may be a lag of several months before the latest data becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Arkansas (ARRETAILQGSP), retrieved from FRED.