Chain-Type Quantity Index for Real GDP: Real Estate (531) in the Great Lakes BEA Region
GLAKREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.34
Year-over-Year Change
12.95%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate (531) in the Great Lakes BEA Region measures the volume of real estate activity in the economic output of the Great Lakes region. This metric is crucial for economists and policymakers to assess regional economic trends and inform decision-making.
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 provides a measure of the real estate sector's contribution to the overall economic output of the Great Lakes region, one of the key geographic divisions defined by the Bureau of Economic Analysis (BEA). It offers insights into the real estate industry's role in driving regional growth and development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula applied to real estate GDP data for the Great Lakes region.
Historical Context
This metric is widely used by economists, analysts, and policymakers to monitor the health and performance of the real estate market in the Great Lakes region and its broader economic implications.
Key Facts
- The Great Lakes region includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
- Real estate is a significant contributor to the region's economic output.
- The index is based on chained-dollar values to account for inflation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of real estate activity in the overall economic output of the Great Lakes region, as represented by a chain-type quantity index.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the role of the real estate sector in driving regional economic growth and development, which is crucial for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula applied to real estate GDP data for the Great Lakes region.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, analysts, and policymakers to monitor the health and performance of the real estate market in the Great Lakes region and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and any revisions made by the U.S. Bureau of Economic Analysis.
Related Trends
Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in the Great Lakes BEA Region
GLAKRERENTLEARGSP
Real Gross Domestic Product: Warehousing and Storage (493) in the Great Lakes BEA Region
GLAKWARESTORRGSP
Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in the Great Lakes BEA Region
GLAKFRBCIRGSP
Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in the Great Lakes BEA Region
GLAKDATAWWWNGSP
Gross Domestic Product: Insurance Carriers and Related Activities (524) in the Great Lakes BEA Region
GLAKINSCRANGSP
Gross Domestic Product: Mining (Except Oil and Gas) (212) in the Great Lakes BEA Region
GLAKMINEXOILGASNGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate (531) in the Great Lakes BEA Region (GLAKREALQGSP), retrieved from FRED.