Chain-Type Quantity Index for Real GDP: Information (51) in the Great Lakes BEA Region
GLAKINFOQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
163.91
Year-over-Year Change
21.03%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in the Great Lakes BEA Region measures the real output of the information industry in the Great Lakes region of the United States. This metric is a key indicator of economic activity and productivity in the information 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
The Chain-Type Quantity Index is a measure of real GDP, or output adjusted for inflation, specifically for the information industry within the Great Lakes region. This data can be used to analyze trends in the performance and competitiveness of the information sector in this important economic area.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and production over time.
Historical Context
This metric provides insight into the health and dynamics of the information industry, which is a crucial component of the broader regional and national economy.
Key Facts
- The information industry accounts for over 5% of total GDP in the Great Lakes region.
- Real GDP in the information sector has grown by 12% in the Great Lakes region over the past 5 years.
- The Chain-Type Quantity Index uses 2012 as the base year for calculating real GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output, or inflation-adjusted GDP, of the information industry in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the performance and competitiveness of the information sector, which is a critical component of the regional and national economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and production over time.
Q: How is this trend used in economic policy?
A: Analysts and policymakers can use this data to assess the health and dynamics of the information industry, which informs decisions related to economic development, workforce planning, and investment strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve with a typical 1-2 month delay, 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: Information (51) in the Great Lakes BEA Region (GLAKINFOQQGSP), retrieved from FRED.