Chain-Type Quantity Index for Real GDP: Educational Services (61) in Colorado
COEDCATQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.67
Year-over-Year Change
22.81%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services (61) in Colorado measures the volume of economic output from the educational services industry in Colorado, adjusting for inflation.
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 provides a standardized way to track changes in the real (inflation-adjusted) value added by the educational services sector to Colorado's overall economic activity. It is a key indicator for analysts and policymakers monitoring the state's economic performance and educational industry trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This metric offers insights into the role of education in Colorado's economy and can inform policy decisions around investment, regulation, and workforce development.
Key Facts
- Colorado's educational services sector accounts for over 3% of the state's total GDP.
- The Chain-Type Quantity Index for this sector has grown by 20% over the past decade.
- This metric is seasonally adjusted to account for annual enrollment patterns.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Colorado's educational services industry as a component of the state's overall GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and economic contribution of Colorado's education sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This index can inform policy decisions around educational investment, workforce development, and the role of the education industry in Colorado's overall economic growth.
Q: Are there update delays or limitations?
A: This data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services (61) in Colorado (COEDCATQGSP), retrieved from FRED.