Chain-Type Quantity Index for Real GDP: Private Industries in Colorado
COPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
128.56
Year-over-Year Change
57.55%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Industries in Colorado measures the real economic output of the private sector in the state. It is a key indicator of Colorado's economic performance and growth.
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 goods and services produced by Colorado's private industries, adjusted for inflation. It provides a comprehensive measure of economic activity beyond just GDP, reflecting the health and productivity of the state's private sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index approach.
Historical Context
Policymakers and analysts use this index to assess Colorado's economic trends and competitiveness.
Key Facts
- Colorado's private sector accounts for over 80% of the state's GDP.
- The index has grown by an average of 3.2% annually over the past decade.
- The index reached an all-time high in 2021 as the state's economy rebounded from the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Industries in Colorado measures the real output and economic activity of the state's private sector, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index provides a comprehensive gauge of Colorado's private sector performance and growth, which is crucial for understanding the state's overall economic health and competitiveness.
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 index approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess Colorado's economic trends and competitiveness, informing decision-making and policy development.
Q: Are there update delays or limitations?
A: The index is released quarterly with a lag of approximately two months, so there may be a delay in accessing the most recent data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Industries in Colorado (COPIQGSP), retrieved from FRED.