Chain-Type Quantity Index for Real GDP: Information (51) in Florida
FLINFOQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
163.17
Year-over-Year Change
23.08%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in Florida measures the inflation-adjusted output of the information sector in Florida. This metric is crucial for analyzing economic performance and productivity trends 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
The Chain-Type Quantity Index for Real GDP: Information (51) in Florida tracks the volume of goods and services produced by the information industry, including publishing, telecommunications, data processing, and other information-related activities. This index is used to assess growth and structural shifts within Florida's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis using a chain-weighted formula to calculate real GDP at the state and industry level.
Historical Context
Policymakers and economists monitor this index to understand the role of the information sector in Florida's economic development and competitiveness.
Key Facts
- The information sector accounts for over 7% of Florida's total GDP.
- Florida's information sector has grown by an average of 3.2% annually over the past decade.
- Rapid expansion of cloud computing, software, and data services has driven recent growth in Florida's information industry.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Florida measures the inflation-adjusted output of the information sector in the state, including industries like publishing, telecommunications, and data processing.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the performance and role of the information industry within Florida's broader economy. It allows policymakers and economists to assess growth, productivity, and structural shifts in this key sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis using a chain-weighted formula to calculate real GDP at the state and industry level.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to understand the information sector's contribution to Florida's economic development and competitiveness. It informs decisions around infrastructure, workforce, and industry-targeted policies.
Q: Are there update delays or limitations?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Florida is updated quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Information (51) in Florida (FLINFOQQGSP), retrieved from FRED.