Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Colorado
COACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.74
Year-over-Year Change
43.42%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Colorado measures the real output of the accommodation and food services sector in the state. This metric is important for economists and policymakers to assess the health and growth of this key service industry.
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
The Chain-Type Quantity Index is a measure of real, inflation-adjusted GDP that tracks the output of the accommodation and food services sector in Colorado. It provides an indication of the sector's economic activity and performance over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by state estimates.
Historical Context
This trend is used by analysts and policymakers to monitor the broader economic conditions and development of Colorado's service economy.
Key Facts
- The index is measured with 2012 as the base year (2012=100).
- Colorado's accommodation and food services sector accounts for over 10% of the state's total GDP.
- The index reached a peak of 118.7 in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Colorado measures the real, inflation-adjusted output of the accommodation and food services sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides an important indication of the economic performance and growth of Colorado's key service industry, which is crucial for understanding the broader state economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by state estimates.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to monitor the conditions and development of Colorado's service economy, which informs decision-making and policy actions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
Related Trends
Leading Index for Colorado
COSLIND
Real Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Colorado
COELCEQAPMANRGSP
State Government Tax Collections, Other License Taxes in Colorado
COOTHLICTAX
Per Capita Personal Consumption Expenditures: Services: Recreation Services for Colorado
COPCEPCSRECSRV
Job Losers and Persons Who Completed Temporary Jobs, as a Percent of the Civilian Labor Force for Colorado
U2UNEM2CO
Transportation Carbon Dioxide Emissions, Distillate Fuel for Colorado
EMISSCO2VDFACBCOA
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Colorado (COACCFDQGSP), retrieved from FRED.