Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Colorado
COPRIGOODPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.39
Year-over-Year Change
50.70%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Colorado measures the real output of private goods-producing industries in the state. It provides valuable insights into the overall economic performance and production trends in Colorado.
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 inflation-adjusted quantity of goods produced by private industries in Colorado, such as manufacturing, mining, and construction. It is a key indicator of the state's economic health and industrial activity, often used by policymakers and analysts to assess the region's economic conditions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index method to measure real GDP.
Historical Context
This trend is widely referenced by Colorado economists, policymakers, and businesses to understand the state's industrial production and guide economic decision-making.
Key Facts
- Colorado's private goods-producing industries account for over 20% of the state's GDP.
- The index has shown steady growth in Colorado's industrial production since the 2008 recession.
- Manufacturing is the largest component of the private goods-producing sector in Colorado.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Colorado measures the real, inflation-adjusted output of private goods-producing industries in the state, including manufacturing, mining, and construction.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the overall economic performance and production trends in Colorado, helping policymakers, businesses, and analysts assess the state's industrial activity and economic conditions.
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 method to measure real GDP.
Q: How is this trend used in economic policy?
A: This trend is widely referenced by Colorado economists, policymakers, and businesses to understand the state's industrial production and guide economic decision-making.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in Colorado (COPRIGOODPROQGSP), retrieved from FRED.