Chain-Type Quantity Index for Real GDP: Private Industries in Connecticut
CTPIQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.88
Year-over-Year Change
13.52%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Private Industries in Connecticut measures the total real output of private industries in the state. It is a key indicator of economic growth and productivity within Connecticut's private sector.
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 chain-weighted volume of real GDP produced by Connecticut's private industries, adjusted for inflation. It is a useful tool for analyzing the state's economic performance and competitiveness relative to other states or the national average.
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 index to gauge the overall health of Connecticut's private-sector economy and inform economic development strategies.
Key Facts
- Connecticut's private sector GDP index has a base year of 2012.
- The index reached a peak of 111.36 in 2018 before declining due to the COVID-19 pandemic.
- This index is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Private Industries in Connecticut measures the total real output of private industries in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of economic growth and productivity within Connecticut's private sector, which is essential for understanding the state's overall economic performance and competitiveness.
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 index to gauge the health of Connecticut's private-sector economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: This index is released quarterly by the U.S. Bureau of Economic Analysis, with some potential for delays in data reporting.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Industries in Connecticut (CTPIQGSP), retrieved from FRED.