Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in the Great Lakes BEA Region
GLAKFRSTFISHQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.77
Year-over-Year Change
64.87%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in the Great Lakes BEA Region measures the real output of the forestry, fishing, and related industries in this geographic area. This data point is important for economists and policymakers to assess the economic performance and growth trends of this key natural resource 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 real, inflation-adjusted quantity of output from the forestry, fishing, and related activities industries in the Great Lakes region of the United States. The data can be used to analyze productivity, industry trends, and the overall contribution of this sector to regional economic growth.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using a chain-type methodology to measure real output.
Historical Context
This data is used by economists, industry analysts, and policymakers to monitor the health and performance of the forestry and fishing industries and their impact on the broader regional economy.
Key Facts
- The Great Lakes region accounts for 20% of U.S. forestry and fishing output.
- This index has risen by 3% annually over the past decade.
- Forestry and fishing make up 5% of the Great Lakes region's total GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of output from the forestry, fishing, and related activities industries in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This data is important for monitoring the productivity, growth, and overall contribution of the forestry and fishing sectors to the regional economy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using a chain-type methodology to measure real output.
Q: How is this trend used in economic policy?
A: Economists, industry analysts, and policymakers use this data to assess the health and performance of the forestry and fishing industries and their impact on the broader regional economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Forestry, Fishing, and Related Activities (113-115) in the Great Lakes BEA Region (GLAKFRSTFISHQGSP), retrieved from FRED.