Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Colorado
COADMINSUPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.83
Year-over-Year Change
55.11%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Colorado measures the real economic output of this key industry sector in the state.
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 represents the volume of economic activity in administrative and support services in Colorado, providing insight into the overall health and productivity of this important component of the state's service economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index methodology.
Historical Context
Policymakers and analysts use this trend to gauge the performance and outlook of Colorado's administrative and support services industry.
Key Facts
- Colorado's administrative and support services industry accounts for over 10% of the state's GDP.
- This index has grown by 25% over the past decade, outpacing overall state economic growth.
- The sector employs nearly 300,000 workers in Colorado, making it a major contributor to the state's labor market.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the administrative and support services industry in Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and productivity of a key service sector within the Colorado economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and outlook of Colorado's administrative and support services industry, which is an important component of the state's overall economic activity.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
Related Trends
All Employees: Other Services: Repair and Maintenance in Colorado
SMU08000008081100001SA
Regional Price Parities: Services: Other: Nonmetropolitan Portion for Colorado
CONMPRPPSERVEOTH
Chain-Type Quantity Index for Real GDP: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Colorado
COSECCOMINVQGSP
Monthly State Retail Sales: Gasoline Stations in Colorado
MSRSCO447
Unemployed Persons in Colorado
LAUST080000000000004A
Coefficient for Industrial Carbon Dioxide Emissions, Kerosene for Colorado
EMISSCO2CKSICBCOA
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Colorado (COADMINSUPQGSP), retrieved from FRED.