Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in the Great Lakes BEA Region
GLAKPETCOALMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.43
Year-over-Year Change
-1.03%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in the Great Lakes BEA Region measures the output volume of the petroleum and coal products manufacturing industry within the Great Lakes region. This metric is important for analyzing economic activity and productivity trends in this key industrial 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 changes in the real output, or inflation-adjusted production, of petroleum and coal products manufacturing establishments located in the Great Lakes Bureau of Economic Analysis (BEA) region. It provides insight into the performance and competitiveness of this industry, which is a significant contributor to the regional economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using quantity indexes based on industry-level output measures.
Historical Context
Policymakers and market analysts use this index to assess the health and competitiveness of the petroleum and coal products industry within the Great Lakes region.
Key Facts
- The Great Lakes region accounts for over 25% of U.S. petroleum and coal products manufacturing.
- This index has a base year of 2012 = 100.
- Quarterly data is available from 2005 to the present.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output volume of the petroleum and coal products manufacturing industry within the Great Lakes BEA region.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and competitiveness of a key industrial sector in the Great Lakes economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using quantity indexes based on industry-level output measures.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this index to assess the health and competitiveness of the petroleum and coal products industry within the Great Lakes region.
Q: Are there update delays or limitations?
A: Quarterly data is available from 2005 to the present with no known update delays.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in the Great Lakes BEA Region (GLAKPETCOALMANQGSP), retrieved from FRED.